Jefferies Boosts Numbers On Symantec (SYMC) After Results

Jefferies raised its price target on Symantec (NASDAQ: SYMC) from $19 to $20 following Q3 results.

The firm commented, "SYMC’s F3Q and guidance were largely as we expected: progress with several product cycles and a modest FX-driven adjustment to the outlook. Moving forward, we believe the acceleration in storage management bookings, Consumer new product growth and progress with margin management will provide the basis for continued consistency. At less than 10x earnings, we continue to like the stock and raise our target to $20 from $19."

Jefferies raised FY12 EPS from $1.61 to $1.64 and FY13 from $1.79 to $1.83.

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 $17.07 yesterday.

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