Analysts raised their price targets on Synopsys Inc. on Q4 beat and strong outlook. DA Davidson analyst Thomas Diffely raised the price target (PT) to $400 from $335 (15 percent upside) and kept a Buy. The quarter reflects solid execution and broad-based strength across all segments and geographies, with records across revenue, EPS, backlog, and operating cash flow in FY21, highlighting the robust demand for Synopsys solutions. Design activity continues to drive the industry higher, Diffely adds, stating that he expects rising chip complexity, AI adoption, the 5G proliferation to drive robust demand for all advanced EDA tools. KeyBanc analyst Jason Celino raised the PT to $395 from $347 (13 percent upside), given his confidence in EDA tailwinds and margin expansion opportunities. The analyst notes Synopsys reported in-line Q4 results and issued meaningfully better 2022 revenue guidance above the double-digit baseline expectations. Celino keeps an Overweight rating on the shares. …