J.P. Morgan Reports on Symantec

J.P. Morgan commented on Symantec SYMC in a report released earlier today. In the report, J.P. Morgan was positive in its assessment of the company. J.P. Morgan writes, "The acquisition is expected to enhance the eDiscovery capabilities of Symantec's Enterprise Vault, the company's popular archiving offering. Clearwell should expand Symantec's addressable market to include the roughly $1.1B eDiscovery market, which Gartner estimates will grow at 14% CAGR to $1.7B through 2014. Management also expects potential integration synergies with other technology areas, including Data Insight and DLP. Clearwell will be operated within SYMC's Information Management Group under the leadership of Deepak Mohan." J.P. Morgan currently has an Overweight rating on Symantec. Shares of Symantec SYMC closed the trading day at $19.57, down from $19.71 at open.