Market Overview

3 Reasons To Buy Shares Of Symantec This Year

Share:
3 Reasons To Buy Shares Of Symantec This Year

Barclays research analyst Saket Kalia upgraded Symantec Corporation (NASDAQ: SYMC) to Overweight with a price target of $38.

Justification For Upgrade

The upgrade was based on three primary reasons:

    1. Symantec has become more competitive in the enterprise industry, which should allow for additional revenue growth. Kalia noted pairing stronger enterprise fundamentals with a higher subscription mix should provide Symantec with acceleration and growth into the fiscal year of 2019.
    2. Symantec does not need significant penetration into Norton’s subscriber base to realize revenue synergies from LifeLock. According to Kalia, “Norton’s 25 million subscriber base and upsell opportunity with LifeLock’s bundled pricing could move the needle for Consumer Security.” Additionally, he pointed out how even low penetration into this base could move the needle on a consumer growth profile that has been declining.
    3. Kalia believes Symantec can generate between $1.5 billion and $2 billion of free cash flow. He expects Symantec's 2017 Financial Analyst Day next week to shed more light on its free cash flow generation.

Related Links:

15 Biggest Mid-Day Gainers For Tuesday

Know When To Fold 'Em: Symantec Valuation Appears Full
________
Image Credit: By LPS.1 - Own work, CC0, via Wikimedia Commons

Latest Ratings for SYMC

DateFirmActionFromTo
Nov 2019UBSUpgradesNeutralBuy
Jun 2019MizuhoUpgradesNeutralBuy
Jun 2019Morgan StanleyDowngradesEqual-WeightUnderweight

View More Analyst Ratings for SYMC
View the Latest Analyst Ratings

 

Related Articles (SYMC)

View Comments and Join the Discussion!

Posted-In: Analyst Color Long Ideas News Upgrades Price Target Analyst Ratings Tech Trading Ideas Best of Benzinga

Latest Ratings

StockFirmActionPT
MTNBAegis CapitalMaintains3.5
FSKRWells FargoMaintains14.8
VRMWells FargoMaintains76.0
QEPWells FargoMaintains2.0
PXDWells FargoMaintains134.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com