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SYMC

Symantec

$25.01

-0.24 (-0.95%)

, AVGO

Broadcom

$283.30

-1.55 (-0.54%)

13:16
07/05/19
07/05
13:16
07/05/19
13:16

Broadcom weighs buying Tibco if Symantec deal not done, CNBC says

As previously reported by Bloomberg and Financial Times and confirmed by CNBC, Broadcom (AVGO) is in talks to acquire security software vendor Symantec (SYMC). However, Broadcom has also been working on a deal to acquire an infrastructure software company if the Symantec deal doesn't get done and has considered Tibco, which is owned by Vista Equity Partners, according to CNBC's Ari Levy and Alex Sherman. Buying Tibco or another infrastructure software company would be delayed or put on hold indefinitely if the Symantec deal occurs, the report noted, citing sources. Reference Link

SYMC

Symantec

$25.01

-0.24 (-0.95%)

AVGO

Broadcom

$283.30

-1.55 (-0.54%)

  • 08

    Jul

  • 09

    Jul

SYMC Symantec
$25.01

-0.24 (-0.95%)

07/03/19
WEDB
07/03/19
NO CHANGE
Target $19
WEDB
Neutral
Symantec buyout could value company at $26-$28 per share, says Wedbush
Following a Bloomberg report that Broadcom (AVGO) is in advanced talks to acquire Symantec (SYMC), Wedbush analyst Daniel Ives said he believes $26-$28 per share is the most likely valuation for Symantec in a buyout scenario, adding that he views such a price as one "that many investors would ultimately approve." He also contends "now would be the golden time for the company and its Board to finally consider a sale," given its recent soft results and guidance, sudden departure of its CEO and the other company specific as well as secular headwinds faced by Symantec. However, Ives keeps a Neutral rating and $19 price target on Symantec shares, which are up $3.97, or 18%, to $26.07 in pre-market trading.
07/03/19
OPCO
07/03/19
NO CHANGE
OPCO
Perform
Oppenheimer sees Broadcom growing software focus as positive for Symantec
Oppenheimer analyst Shaul Eyal notes that both Bloomberg and the Financial Times are speculating that Broadcom (AVGO) could be acquiring Symantec (SYMC) for over $15B. The analyst sees Symantec's enterprise business struggling to firmly reestablish itself, Consumer business sustaining solid performance, and stable cash flows as potentially supporting the rationale for a transaction. Further, Eyal believes Broadcom's growing software focus could yield a positive outcome to Symantec's shareholders. The analyst has a Perform rating on Symantec's stock.
07/05/19
MSCO
07/05/19
NO CHANGE
Target $250
MSCO
Equal Weight
Broadcom reported deal talks likely to raise questions, says Morgan Stanley
After Bloomberg and the Financial Times reported that Broadcom (AVGO) is in advanced talks to buy Symantec (SYMC), Morgan Stanley analyst Craig Hettenbach said he thinks such a potential deal would be less surprising than the company's prior acquisition of CA, but there will likely be many questions about it given the deterioration in Symantec's business. He estimates such a potential deal could be approximately 10% accretive at a typical M&A premium and with a 10% reduction in operating expenses. Given that he thinks questions about Broadcom's strategy could linger, Hettenbach keeps an Equal Weight rating on the shares.
07/05/19
RHCO
07/05/19
NO CHANGE
Target $307
RHCO
Buy
Broadcom bias higher on Symantec speculation, says SunTrust
SunTrust analyst William Stein kept his Buy rating and $307 price target on Broadcom (AVGO) but says his bias is turning higher on the company's valuation and consensus expectations following this week's press speculation regarding its interest in Symantec (SYMC). The analyst contends that the dip in the Broadcom stock price is comparable to last year's downturn when the company announced a deal to acquire CA Technologies and should also be bought, since the shares recovered quickly as the assets "become a relatively better performing part" of the company's business this year. Stein is also positive on Broadcom's "outstanding historical track record of value creation" from its investing decisions and expects its management to continue to make "intelligent capital allocation decisions."
AVGO Broadcom
$283.30

-1.55 (-0.54%)

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PSMT

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UNH

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NUE

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$54.71

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GPC

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ADTN

Adtran

$15.84

0.09 (0.57%)

20:07
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  • 18

    Jul

BHC

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$22.91

-0.26 (-1.12%)

, PGNX

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$5.38

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PGNX

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$5.38

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TEVA

Teva

$8.11

-0.07 (-0.86%)

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  • 24

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EFC

Ellington Financial

$18.30

0.045 (0.25%)

19:31
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  • 18

    Jul

EPRT

Essential Properties Realty Trust

$19.83

-0.27 (-1.34%)

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FTSV

Forty Seven

$8.77

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SNDE

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NYMT

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$6.25

-0.01 (-0.16%)

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  • 18

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IBKC

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$74.44

-0.7 (-0.93%)

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IBKC

Iberiabank

$74.44

-0.7 (-0.93%)

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  • 19

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EBAY

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NFLX

Netflix

$362.50

-3.22 (-0.88%)

18:42
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  • 17

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MIRM

Mirum Pharmaceuticals

$0.00

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  • 18

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GSBC

Great Southern Bancorp

$57.85

-0.78 (-1.33%)

18:31
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  • 18

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NFLX

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  • 17

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NFLX

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NFLX

Netflix

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