Goldman Sachs Downgrades Symantec (SYMC) to Sell
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Price: $23.11 -2.16%
Rating Summary:
14 Buy, 16 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 17 | Down: 20 | New: 29
Rating Summary:
14 Buy, 16 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 17 | Down: 20 | New: 29
Trade SYMC Now!
Goldman Sachs downgraded Symantec (NASDAQ: SYMC) from Neutral to Sell with a price target of $14, suggesting 9% downside.
The firm expects shares to underperform as investors get increased visibility to worsening margins and cash flows.
"Secular headwinds in Symantec's core businesses are hampering growth, and the company is transitioning to lower margin, higher growth areas," the firm notes. They see prolonged sluggish organic growth as the strong areas of the business are not enough to offset mature segments.
For an analyst ratings summary and ratings history on Symantec click here. For more ratings news on Symantec click here.
Shares of Symantec closed at $15.45 yesterday, with a 52 week range of $14.94-$20.50.
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The firm expects shares to underperform as investors get increased visibility to worsening margins and cash flows.
"Secular headwinds in Symantec's core businesses are hampering growth, and the company is transitioning to lower margin, higher growth areas," the firm notes. They see prolonged sluggish organic growth as the strong areas of the business are not enough to offset mature segments.
For an analyst ratings summary and ratings history on Symantec click here. For more ratings news on Symantec click here.
Shares of Symantec closed at $15.45 yesterday, with a 52 week range of $14.94-$20.50.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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