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Fly News Breaks for February 1, 2019
SYMC
Feb 1, 2019 | 05:29 EDT
Symantec last night exceeded fiscal Q3 expectations across all metrics and its Q4 guidance was largely in-line, Jefferies analyst John DiFucci tells investors in a post-earnings research note. He raised his price target for the shares to $22 from $21 and keeps a Hold rating on the name. Though fiscal 2020 growth guidance was reduced to account for modest upside in fiscal 2019, Symantec hasn't grown revenue mid-single digits on an organic constant currency basis in many years, says the analyst. He believes that accelerating growth into fiscal 2020 "seems like a high risk proposition at this time."
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