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Wells Fargo Upgrades Synopsys to Overweight, Raises Price Target to $475
Wells Fargo analyst Joe Quatrochi upgrades Synopsys (NASDAQ:SNPS) from Equal-Weight to Overweight and raises the price target from $450 to $475.
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Morgan Stanley Upgrades Synopsys to Overweight, Maintains Price Target to $500
Shares of software companies are trading lower after August's hotter-than-expected payrolls report increased expectations that the Federal Reserve could raise interest rates at its next meeting. A stronger U.S. dollar and higher rate expectations are weighing on growth stocks by reducing investor appetite for higher-risk assets.