Wunderlich Reiterates Buy on Symantec

Wunderlich is out with its report today on Symantec SYMC, reiterating Buy. In its report, Wunderlich writes, "Symantec delivered Q2 EPS of $0.39 in line with consensus while revenue of $1.68B was ahead of the $1.67B consensus estimate. Total revenue grew 13.6% as reported and 8.6% in constant currency. We were impressed with revenue performance and view the growth trajectory as offering evidence of a solid product portfolio and simultaneous sales execution across all business segments. EPS saw approximately $0.05 of negative pressure from higher-than-anticipated OEM placement fees in the quarter. We reiterate our Buy rating on shares of Symantec." Wunderlich maintains a $22 PT on SYMC. At the time of posting, shares of SYMC were trading at $17.71, down 4.22% from Wednesday's close.