UBS Upgrades Symantec (SYMC) to Buy

November 5, 2019 4:59 AM EST
Get Alerts SYMC Hot Sheet
Price: $23.75 --0%

Rating Summary:
    9 Buy, 29 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 17 | Down: 5 | New: 36
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UBS analyst Fatima Boolani upgraded Symantec (NASDAQ: SYMC) from Neutral to Buy with a price target of $27.00 (from $23.00).

The analyst comments "We upgrade SYMC (nka NortonLifeLock or NLOK) to Buy on 1) higher conviction in mgmt's $1.50+ earnings power and $900M+ FCF expectations for the Consumer business based on our standalone model; 2) attractive ~3% dividend yield following the Enterprise business divestiture; and 3) compelling current 10% earnings and FCF yield implied by our new UBSe."

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 $23.75 yesterday.

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