ANSYS, Inc.’s (ANSS) Price Target Raised

Analyst Ross MacMillan at Jefferies & Company, Inc. has raised the price target for ANSYS, Inc. (NASDAQ: ANSS) from $48 to $50.

The company finished 2009 on a strong note. According to Jefferies, the company is a core holding, given its dominant position in a market that can support growth in the mid teens for the medium term.

The company expects revenue of $125-$131 million and non-GAAP EPS of $0.40-$0.43 in the first-quarter, which is slightly below the consensus.

Jefferies continues to rate ANSYS, Inc. as a Buy.