Does Synaptics (SYNA) Have the Potential to Rally 40.62% as Wall Street Analysts Expect?

Core Viewpoint - Synaptics (SYNA) shares have increased by 7.3% recently, closing at $62.48, with a potential upside of 40.6% based on Wall Street analysts' mean price target of $87.86 [1] Group 1: Price Targets and Analyst Estimates - The mean estimate consists of seven short-term price targets with a standard deviation of $11.85, indicating variability among analysts [2] - The lowest price target of $80 suggests a 28% increase, while the highest target of $105 indicates a potential surge of 68.1% [2] - Analysts' price targets can often mislead investors, as empirical research shows they rarely indicate actual stock price movements [7][10] Group 2: Earnings Estimates and Analyst Agreement - Strong agreement among analysts regarding SYNA's earnings prospects supports the expectation of an upside, as indicated by positive revisions in EPS estimates [4][11] - Over the last 30 days, the Zacks Consensus Estimate for the current year has increased by 62.3%, with three estimates moving higher and no negative revisions [12] - SYNA holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimates [13]