Zacks Investment Research upgraded shares of Symantec Corp (SYMC) from NEUTRAL to OUTPERFORM on January 14, 2013, with a target price of $24.00.
Symantec has delivered decent second quarter 2013 results with EPS and revenue surpassing the Zacks Consensus Estimates. Symantec expects a sequentially weak EPS in the next quarter, which seems justified given its plans for additional investments in some operating areas. Uncertainty over PC sales is going to affect its Consumer segment throughout the year. This apart, the company continues to enjoy a leadership position in the IT security market and rolls out new mobile security products at regular intervals. Moreover, as smaller companies like Kaspersky are consistently bringing comparable products to the market, competition continues to intensify. We maintain upgrade Symantec from Neutral to Outperform.
Get all Zacks Research Reports and be alerted to fast-breaking buy and sell opportunities every trading day.
To get a free copy of the research report on Symantec Corp (SYMC),
click here.
For more information about research offerings from Zacks Investment Research, visit
Zacks.com .
Be the first to comment