UPDATE: Pacific Crest Securities Reiterates Outperform Rating, Lowers PT on LifeLock on Regulatory Uncertainty

In a report published Friday, Pacific Crest Securities analyst Josh Beck reiterated an Outperform rating on

, but lowered the price target from $20.00 to $16.00. In the report, Pacific Crest Securities noted, “Our confidence in LOCK's execution has ticked down on the mobile app issue. We recommend owners stick with it on risk/reward. While we have a positive bias on the regulatory and legal outcomes, we need clarity before advising new positions in LOCK.” LifeLock closed on Thursday at $11.29.