UPDATE: Morgan Stanley Reiterates Underweight Rating, Lowers PT on Symantec Corporation Following Termination of Steve Bennett

In a report published Friday, Morgan Stanley analyst Keith Weiss reiterated an Underweight rating on

, but lowered the price target from $21.00 to $18.00. In the report, Morgan Stanley noted, “Symantec announced the termination of CEO Steve Bennett after several quarters of disappointing execution, leaving a significant leadership gap in the middle of a major reorganization of their product and go-to-market strategies. Management transitions, sales disruptions and new products not yet in the field keep us Underweight and we reduce our price target from $21 to $18.” Symantec Corporation closed on Thursday at $20.91.