Jefferies Says Thesis Playing Out at Symantec (SYMC) Although Margins Lag

Jefferies reiterated its Buy rating and $23 price target on Symantec (NASDAQ: SYMC) following Q2 result after the close.

The firm noted, "SYMC reported a solid 2Q with progress seen in several product areas. As expected, currency did diminish guidance but when normalizing for the move, guidance would have been above consensus. With underlying fundamentals still seeing strength in front of several product cycles, we remain positive on the stock."

Q3 EPS estimates go down from 40.44 to $0.43 and FY12 frmo $1.83 to $1.81.

For more ratings news on Symantec click here and for the rating history of Symantec click here.

Shares of Symantec closed at $18.49 yesterday.

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