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Fly News Breaks for September 9, 2019
AVGO, SYMC
Sep 9, 2019 | 08:07 EDT
Wells Fargo analyst Philip Winslow notes that after announcing last month that Broadcom (AVGO) will acquire Symantec's (SYMC) Enterprise Security business, various news outlets reported that Advent International and Permira Holdings are interested in purchasing Symantec's Consumer Cyber Safety business for $26-$27 per share. The analyst believes Symantec's Consumer Cyber Safety business would be a potential candidate to be taken private in a leveraged buyout due given the relative stability of the segment's revenue and cash flow. Winslow reiterates a Market Perform rating and $25 price target on Symantec's shares.
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