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Fly News Breaks for April 8, 2019
SYMC
Apr 8, 2019 | 05:28 EDT
Goldman Sachs analyst Gabriela Borges upgraded Symantec to Buy from Neutral and raised her price target for the shares to $28 from $23. The company's fiscal 2020 "should show improvement on essentially every key metric," Borges tells investors in a research note. Further, the analyst views the current valuation as "undemanding" and sees a path to "sustained growth" in current billings amid easier year-over-year comparisons. She points out Symantec now offers a 10% free cash flow yield, but admits the company offers "limited visibility into long-term growth."
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