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SNPS Upgraded by JPMorgan

By Market News Video Staff, Wednesday, November 24, 1:09 PM ET

Chip design company Synopsys (NASDAQ:SNPS) saw its stock upgrade by JPMorgan Chase (NYSE:JPM) today.

The firm hiked it rating from neutral to overweight, and raises its price target from $26.50 to $33 per share.

JPMorgan said it expects Synopsys to increase its cash flow in 2011.

Synopsys shares are trading up 3% Wednesday.

The stock is 1.88% of the holdings of the iShares S&P North American Technology-Software Index Fun (AMEX:IGV).

Top holdings include Oracle (NASDAQ:ORCL), at 7.67% of the fund, followed by Adobe (NASDAQ:ADBE), at 7.04%, and Microsoft (MSFT), at 6.82%.

Find the right mix of model portfolios today at PortfolioChannel.com

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