Symantec PT Set at $28.00 by Jefferies Group (SYMC)

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Analysts at Jefferies Group set a $28.00 price target on shares of Symantec (NASDAQ: SYMC) stock in a research report issued to clients and investors on Wednesday, Analyst Ratings Network reports. The firm currently has a a “buy” rating on the stock.

The analysts wrote, “With the start of FY14, SYMC is entering the next phase of its turnaround. The near-term will involve more visible operational disruption where cost reduction activities will precede any meaningful revenue growth acceleration. Given valuation has moved closer to fair levels, the stock could be range bound in the near-term, but the earnings leverage longer-term is material and now more tangible, which is the reason for the Buy.”

A number of other analysts have also recently weighed in on SYMC. Analysts at TheStreet reiterated a “buy” rating on shares of Symantec in a research note to investors on Monday. Finally, analysts at UBS AG raised their price target on shares of Symantec from $24.00 to $28.00 in a research note to investors on Wednesday, March 20th. They now have a “buy” rating on the stock.

One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and fifteen have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $24.11.

Symantec (NASDAQ: SYMC) traded down 0.56% on Wednesday, hitting $24.5225. Symantec has a 52-week low of $13.06 and a 52-week high of $24.91. The stock’s 50-day moving average is currently $23.84. The company has a market cap of $16.901 billion and a price-to-earnings ratio of 15.60.

Symantec (NASDAQ: SYMC) last released its earnings data on Wednesday, January 23rd. The company reported $0.45 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.38 by $0.07. The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter last year, the company posted $0.42 earnings per share. Symantec’s revenue was up 4.4% compared to the same quarter last year. On average, analysts predict that Symantec will post $1.71 earnings per share for the current fiscal year.

Symantec Corporation is a global provider of security, storage, and systems management solutions that help businesses and consumers secure and manage their information.

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