Symantec (SYMC) Margin Expansion Initiatives May Provide Catalyst

Symantec Corp. (NASDAQ: SYMC) will Webcast its strategic direction and fiscal third quarter earnings results on Wednesday, Jan. 23, 2013. Analysts at MKM think seasonal strength will support solid results. Analysts also think margin expansion initiatives may provide a catalyst for further share appreciation.

"We expect the update to provide specific details on management's plans for achieving 30% operating margins over the next two to three years, from 25% today," said analyst Israel Hernandez.

"At 11x/10x CY13E/CY14E EPS, valuation remains attractive to us, with room for multiple expansion over the next several quarters should management's new strategy achieve its goal of accelerating top-line growth to 5% or better," added Hernandez.

MKM Partners reiterated a Buy rating on Symantec and raised its price target to $25.00 (from $22.00).

For an analyst ratings summary and ratings history on Symantec (NASDAQ: SYMC) click here. For more ratings news on Symantec click here.

Shares of Symantec closed at $19.94 yesterday.

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