Synopsys price target raised to $575 from $560 at BofA

BofA analyst Vivek Arya raised the firm’s price target on Synopsys (SNPS) to $575 from $560 and keeps a Buy rating on the shares. While Synopsys delivered “strong” Q2 results and FY25 guidance was “resilient,” China weakness is still a concern, the analyst tells investors. Despite being widely reported in the media prior to the quarterly report, Synopsys stated it has not received any notice from BIS regarding potential new export restrictions on EDA software to China, the analyst noted. Following the report, the firm tweaked up its FY25, FY26 and FY27 pro-forma EPS estimates by 1% each fiscal year.