J.P. Morgan Maintains Overweight on Synopsys

J.P. Morgan is out with its report today on Synopsys SNPS, maintaining Overweight. In its report, J.P. Morgan writes, "The cash flow outlook is going up for the third consecutive time this year and is even better than we originally thought on stronger bookings and better collections. We think the Street will finally sit up and take notice, driving shares higher. Combined with solid 3Q revenue/EPS and higher outlook for 4Q, we would continue to be buyers here and highlight the name as our top 2H pick." Jefferies maintains a $33 PT on SNPS. Shares of SNPS closed Wednesday at $23.44, up 3.81% from Tuesday's close.