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Fly News Breaks for June 16, 2016
SYMC
Jun 16, 2016 | 06:56 EDT
BTIG analyst Joel Fishbein upgraded Symantec to Buy with a $23 price target saying the company is on the cusp of substantially growing operating profit and earnings. He expects the Blue Coat acquisition to almost immediately return the enterprise security business back to growth, as it gives the company an expanded product portfolio and addressable market and installs a much needed operator in Greg Clark at the helm. Further, Fishbein said initial$150M in cost synergies and FY18 earnings guidance of $1.75 appears conservative.
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