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Fly News Breaks for November 21, 2016
LOCK, SYMC
Nov 21, 2016 | 07:13 EDT
Oppenheimer analyst Shaul Eyal views Symantec's (SYMC) acquisition of LifeLock (LOCK) for $2.3B positively as he believes the strategy can reinvigorate the former's slightly declining Consumer segment, particularly in an industry that is shifting toward a freemium business model. Overall, the analyst sees the acquisition of LifeLock as "a step in the right direction" to maintain Symantec's market-leading position in Consumer Malware Protection and enter the consumer digital safety market. He reiterates an Outperform rating on Symantec's shares.
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