Symantec (SYMC) - What does it look like? Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Symantec (SYMC) - What does it look like?

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Ilya A. Vasserman who started this subject	8/30/2000 3:30:05 PM
From: Mark Kubo	Read Replies (1) of 2069

From today's Briefing.com - Symantec (SYMC) 47 7/8 -1/2: In recent weeks we have identified a number of beaten up software stocks poised for recovery... Symantec is yet another stock in this group offering compelling long-term valuations... Unlike most of the other names, SYMC's recent decline isn't related to an earnings warning or a disappointing report... To the contrary, last quarter the company posted a blow-out number and guided future estimates higher... What has depressed SYMC's stock is news that the company will acquire AXENT Tech (AXNT)... Under terms of the agreement, AXNT holders will receive 0.50 SYMC shares for each AXNT share... Using today's price deal valued at about $692 mln... But we find the market's disdain for this deal puzzling, as AXNT is a perfect compliment to SYMC... The latter is the leading provider of security software for personal computers, while the formers provides security programs that help protect corporate computer networks... Demand in the corporate market is growing rapidly, as more and more businesses engage in e-commerce transactions... Combined companies will have revenues of over $1 bln... Management also expects yoy revenue growth to accelerate over the next few years from 20% in FY01 to 30% by FY03... Meanwhile, deal expected to be accretive immediately... Despite these positives, the stock is off its 52-wk high by 41%... SYMC now trading at 17.5x and 14.6x projected FY01 and FY02 earnings of $2.73 and $3.27, with long-term growth estimated at 26%... Resulting PEGs of 0.67 and 0.56 make SYMC one of the more attractive growth/value plays in the software industry... Our inital target is in the 60 area. -- Robert Walberg, Briefing.com

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next