Symantec (SYMC): NDR Reveals BlueCoat Revenue Synergies Could Be Extensive And Not In Guidance
- Wall Street rises, buoyed by economic data; Dow sets high
- Twitter (TWTR) 'Takeover Money' Moves On as 'Trump Money' Moves In
- Amazon (AMZN) Could Open Over 2,000 Brick-and Mortar Groceries if Tests Succeed - DJ; Kroger (KR) on Watch
- Buy Any Seasonal Market Weakness Ahead of Year End Rally - Oppenheimer (SPY)
- After-Hours Stock Movers 12/05: (TXMD) (COUP) (BOBE) Higher; (SB) (LXRX) (STWD) Lower (more...)
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
Piper Jaffray analyst, Andrew Nowinski, reiterated his Overweight rating on shares of Symantec (NASDAQ: SYMC) after traveling with management.
The analyst stated "We continue to believe revenue growth will accelerate and operating margin can expand, resulting in long-term earnings growth of 12-14% beyond FY18."
Questions were primarily focused on the BlueCoat acquisition. The primary revenue synergy is expected to be cross-selling Blue Coat’s ProxySG into Symantec’s installed base and cross-selling Symantec’s DLP product into Blue Coat’s installed base. Symantec has over 370,000 enterprise customers, while Blue Coat has over 15,000 enterprise customers. This is key since management’s FY18 EPS guidance of $1.70-$1.80 does NOT assume any impact from these revenue synergies.
price target of $27.00
Shares of Symantec closed at $23.74 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Stifel Upgrades TripAdvisor (TRIP) to Hold
- Brixmor Property Group (BRX) Names New Board Member
- Evercore ISI Raises Price Target on Regions Financial (RF) to $15 After Meeting with Management
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, Management Comments
Related EntitiesPiper Jaffray, Earnings, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!