Market Overview

UPDATE: JP Morgan Reiterates Symantec at Overweight on Outlook Past Sales Reorganization

Related SYMC
5 Chart set-ups to watch next week
Top 4 Stocks In The Security Software & Services Industry With The Highest Revenue
Hackers Unleash Mafia-Style Extortion Tactics (Fox Business)

JP Morgan reiterated its Overweight rating and $24 price target on Symantec (NASDAQ: SYMC) based on current valuation and outlook.

JP Morgan said "While we believe there is a tremendous amount of untapped potential in SYMC, it remains unclear whether that potential will be realized or simply remain that—unrealized potential. SYMC has been plagued by execution issues and secular concerns for years, but we believe there is ultimately more value in the company than is being recognized in the stock price today. We believe share loss over the last five years has been remedied by addressing past product miscues. But the sales organization remains inefficient, providing opportunity for both revenue growth and margin expansion if this can be improved, in our opinion. We believe SYMC, trading at an 11.0% TTM free cash flow yield (excluding acquisitions), offers a compelling investment opportunity."

Symantec closed at $18.62 on Thursday.

Posted-In: JP MorganAnalyst Color Reiteration Intraday Update Analyst Ratings

 

Most Popular

Related Articles (SYMC)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters

Benzinga Professional