Past #1 still a buy

Article Excerpt

SYMANTEC CORP. $19.74 (Nasdaq symbol SYMC; TSINetwork Rating: Average) (650-527-8000; www.symantec.com; Shares outstanding: 638.9 million; Market cap: $12.6 billion; Dividend yield: 1.5%) overcame some challenges in 2018, and we think it’s poised for gains this year. The company continued to shift clients over to its cloud-based platform. That lets them access its services over the Internet. The move slowed its revenue growth last year, but it has increased long-term client retention. Symantec also completed its internal accounting investigation in 2018. That has forced the company to restate some financial statements and tighten its internal controls. However, it won’t affect Symantec’s results going forward. The company’s underlying business remains strong—cybersecurity is an increasingly important and expanding market. Meanwhile, the stock is attractive at just 13.0 times the forecast earnings for 2019 of $1.52 a share. The shares yields 1.5%. Symantec is a buy. buy…

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