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  • Bank of America Corp. (NYSE:BAC) Reiterated its Neutral Rating on Symantec

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    Friday June 3, 2011 at 09:24 am EST
     
    Bank of America Corp. (NYSE:BAC) Reiterated its Neutral Rating on Symantec
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    Bank of America reiterated its Neutral rating on Symantec (NASDAQ:SYMC). It also kept its price target for the company unchanged at $22.

    In a research report published today, Bank of America states, "SYMC has benefited from product cycle momentum and shown positive forward indicators as its turnaround under CEO Mr Salem plays out. However, slower consumer PC sales, lack of traction in SMB and pressure from ORCL-Sun present headwinds for its various segments. We reiterate our Neutral rating and our PO of $22 based on a weighted average of CY11e EV/Rec revs, EV/FCF, and EV/E at a discount to comps given its slower organic growth (est ~5%).". Shares of Symantec Corp. are unchanged in pre market at $18.8."
    Shares of Bank of America Corp. (NYSE:BAC) are struggling in the pre market at $11.16, a 1% drop from Yesterday's close. Major support levels for Bank of America Corp. (NYSE:BAC) below current price are at $11.18 and at $10.87. Resistance levels for Bank of America Corp. (NYSE:BAC) are at $11.61, $12.33, $13.26 and at $13.62.


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