Wunderlich Securities Reiterates Hold on Symantec Corporation (SYMC)

Wunderlich Securities reiterated its Hold rating on Symantec Corporation SYMC. In a research report published today, Wunderlich stated that even though Symantec might beat analysts' earnings expectations in Q1 and in the rest of the year, there remain a number of uncertainties surrounding its performance. In the report, Wunderlich states, "We believe Symantec (SYMC) is positioned to deliver EPS upside on in-line to upside revenue for the March quarter due to the combination of lower OEM placement fees for Norton AV, the weakening dollar, reduced losses from the Huawei Symantec JV, and generally solid enterprise demand. While we see near-term EPS upside and longer-term sustainability to the company's earnings model, we see many crosscurrents in the company's business model that will likely constrain growth. Accordingly, we maintain our Hold rating, but we see SYMC as an opportunistic trade into the quarter for shorter-term investors." Wunderlich currently has a price target of $21 on Symantec. In today's trading, Symantec added 0.26% to its value and is currently standing at $19.45.