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UPDATE: Morgan Stanley Reiterates on Symantec Following Termination of Steve Bennett

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In a report published Friday, Morgan Stanley analyst Keith Weiss reiterated an Underweight rating on Symantec (NASDAQ: SYMC), 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 closed on Thursday at $20.91.

Latest Ratings for SYMC

DateFirmActionFromTo
Oct 2018WedbushInitiates Coverage OnNeutral
Oct 2018Cowen & Co.UpgradesUnderperformMarket Perform
Sep 2018Stifel NicolausMaintainsHoldHold

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Posted-In: Keith Weiss Morgan StanleyAnalyst Color Price Target Analyst Ratings

 

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