Evercore ISI analyst Kenneth Talanian maintained a Hold rating on Symantec Corp (NASDAQ: SYMC) today and set a price target of $22. The company’s shares opened today at $19.80, close to its 52-week low of $17.81.
Talanian wrote:
“We continue to believe that there is room for improvement, particularly on the enterprise side of Symantec’s business, though Dale Fuller’s experience on the consumer side is likely to be of considerable value, in our view. We envision that some fresh eyes on the board may serve to help accelerate fundamental improvements (particularly on the cost side). With regards to the stock; from a fundamental standpoint we continue to believe that there is a debate on the future growth/margin mix at the company and from a technical standpoint the outstanding audit investigation remains a considerable overhang for most investors. Remain In Line rated.”
According to TipRanks.com, Talanian is a 5-star analyst with an average return of 20.5% and a 82.4% success rate. Talanian covers the Technology sector, focusing on stocks such as Proofpoint Inc, Check Point, and FireEye Inc.
The word on The Street in general, suggests a Hold analyst consensus rating for Symantec Corp with a $20.80 average price target.
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The company has a one-year high of $34.20 and a one-year low of $17.81. Currently, Symantec Corp has an average volume of 8.35M.
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Symantec Corp. engages in the provision of security, storage, and systems management solutions. It operates through the Consumer Digital Safety and Enterprise Security segments. The Consumer Digital Safety segment focuses on providing a digital safety solution to protect information, devices, networks, and the identities of consumers.
