HSBC Upgrades Synopsys, Sets Street-High $700 Target
Synopsys NASDAQ:SNPS, the chip design software company, rose 1.81% intraday, as of 10:20 a.m. ET, after HSBC upgraded the stock to Buy from Hold and raised its price target to a Street-high $700 from $490. The target implies over 60% upside from current levels.HSBC set the target at 35x its fiscal…