UPDATE: Jefferies & Company Reiterates Buy Rating, Raises PT on Symantec Corporation

In a report published Friday, Jefferies & Company reiterated its Buy rating on Symantec Corporation (NASDAQ: SYMC), and raised its price target from $23.00 to $25.00.

Jefferies noted, “We look for a broad framework encompassing the growth strategy, operational structure and capital reallocation to be provided as part of SYMC's strategic update on January 23. The company will also report F3Q where, similar to last quarter, the results will be secondary to the strategic direction. Given the recent performance, the event may be less of a catalyst for the stock but long term value remains; we adjust our target to $25.”

Symantec Corporation closed on Thursday at $20.85.