Mr. Desai only knows to play catch-up. If you go back to the history of his upgrades and downgrades on SNPS, you'll see that it's better not to follow his advice. (But this time he may be right, though a little too late.) He downgraded SNPS while it was in the low 30's, and now he's upgrading it when the price has already made a large upward movement. And look at the earnings revision! From $2.00 to $2.58! What a joke.
NEW YORK, May 13 (Reuters) - SoundView Financial Group Inc. said Wednesday it raised its short-term rating on shares of Synopsys Inc. to buy from hold while keeping its long-term hold rating on the stock.
-- Analyst Erach Desai increased his fiscal 1998 earnings estimate to $1.99 per share from $1.94 per share and his 1999 estimate to $2.58 per share from $2.00 per share.
Synopsys Shares to Reach Mid-50s in About a Year, Business Week
Bloomberg News May 14, 1998, 4:16 p.m. PT
Mountain View, California, May 14 (Bloomberg) -- Synopsys Inc. - whose shares rose 5/16 to 43 3/16 on Thursday - could reach the mid-50s in about a year, said Jurika & Voyles portfolio manager Guy Elliffe in Business Week's ``Inside Wall Street'' column. Elliffe sees Synopsys, which supplies software to computer chipmakers, earning $1.90 a share for the fiscal year ending Sept. 30, compared with $1.34 a share in the year earlier
period. The company, whose shares have risen 20.8 percent year-to- date, will continue to grow, the magazine said, thanks to demand for its new products.
Synopsys Chairman and Chief Executive Aart de Geus last month said he expects fiscal 1998 earnings to be in line with analysts' estimates of about $1.93 a share.
Business week is way behind the 8 ball...SNPS will reach 55 to 60 a share well within 1 year..try 3 or 4 months..Then it will meet with some resistance.Think about taking profits then AND then jumping in if it has a downturn.Im in long term , myself.