UPDATE: Morgan Keegan Lowers PT on Symantec to $19

Morgan Keegan is out with its report today on Symantec

, lowering its PT from $20 to $19. In its report, Morgan Keegan writes, "Our price target of $19 implies a P/E of 11x our CY12 EPS estimate of $1.75, slightly above our long-term growth rate assumption of 10% to reflect what we believe is an improved competitive market position. Our PT has been adjusted down from the prior $20." At the time of posting, shares of SYMC were trading at $18.37, down 0.65% from Wednesday's close.