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Fly News Breaks for May 15, 2018
SYMC
May 15, 2018 | 06:57 EDT
The belated Q&A call hosted by Symantec, where management said they are not expecting a material adverse impact on the company's financials from the audit investigation, lessened the near-term risk, Deutsche Bank analyst Karl Keirstead tells investors in a research note. The analyst believes, however, that the audit probe risk will linger. Nonetheless, he concludes that the debate will now pivot to the likelihood of Symantec hitting "what looks like aggressive" fiscal 2020 targets. Keirstead keeps a Hold rating on the shares with a $22 price target.
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