Symantec Corporation (SYMC) : Analyst Rating Update

Symantec Corporation (SYMC) : The consensus on Symantec Corporation (SYMC) based on 17 analyst recommendation on the company stock is 2.65, which is interpreted as a Hold recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 3 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 1 analyst believes that the stock is a Buy, which can produce decent returns in the future. 12 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating. 1 analyst also believes that the downside risk to the stock is higher and suggests a Sell on Symantec Corporation (SYMC).

Symantec Corporation (SYMC) : The consensus price target for Symantec Corporation (SYMC) is $20.65 for the short term with a standard deviation of $3.59. The most optimist securities analyst among the 10 who monitor the stock believes that the stock can reach $24, however, the pessimist price target for the company is $14.

Symantec Corporation (NASDAQ:SYMC): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $20.22 and $20.04 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $20.44. The buying momentum continued till the end and the stock did not give up its gains. It closed at $20.38, notching a gain of 0.15% for the day. The total traded volume was 6,038,922 . The stock had closed at $20.35 on the previous day.

Also, Equity Analysts at the Evercore ISI Group upgrades the rating on Symantec Corporation (NASDAQ:SYMC). The brokerage firm has issued a Hold rating on the shares. The shares were previously rated Sell. The rating by the firm was issued on June 29, 2016. The company shares have dropped -10.82% from its 1 Year high price. On Jul 15, 2015, the shares registered one year high at $23.99 and the one year low was seen on Mar 4, 2016. The 50-Day Moving Average price is $18.55 and the 200 Day Moving Average price is recorded at $18.77.

Symantec Corporation provides security, backup and availability solutions. The Company operates in three segments: Consumer Security, Enterprise Security, and Information Management. The Companys products and services offer protection of information in any environment from the mobile device, to the enterprise data center, to cloud-based systems. Consumers receive automatic downloads of the latest virus definitions, application bug fixes and patches for its consumer product. The Companys enterprise security support program offers annual maintenance support contracts, including content, upgrades and technical support. The Companys Consumer Security segment offers Norton-branded services, which provide multi-layer security and identity protection on desktop and mobile operating systems, to defend against online threats to individuals, families and small businesses.

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