McAfee, Inc. (MFE) Maintains An Outperform Rating
February 12, 2010 1:39 PM
Analyst Daniel H. Ives at FBR Capital Markets (NASDAQ: FBCM) has maintained an Outperform rating for McAfee, Inc. (NYSE: MFE). The company reported another solid quarter yesterday.
According to FBR, the best news to come out of the quarter results was the cash flow number, which beat the consensus estimate by roughly 50%. This should end the bearish approach towards the company, according to FBR.
The company also issued guidance for the first-quarter. The company expects positive revenue and cash flow trends in 2010.
According to FBR, the company is in the early part of a strong growth cycle, with a strong PC upgrade cycle around the corner, and healthy demand trends across all product lines, and geographies.
FBR Capital Markets has set a price target of $50 for McAfee, Inc.
