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Downgrade Alert for Symantec (SYMC)

By Nick Russo

Symantec (NASDAQ:SYMC) was downgraded from Buy to Hold at Standpoint Research today. The stock closed yesterday at $21.02 on volume of 5.7 million shares, below average daily volume of 8.1 million.

Symantec Corporation provides security, storage and systems management solutions to help businesses and consumers secure and manage their information. The Company offers software and services that protect, manage and control information risks related to security, data protection, storage, compliance and management.

There is potential upside of 12.1% for shares of Symantec based on a current price of $21.02 and an average consensus analyst price target of $23.57. Symantec shares have support at the 200-day moving average (MA) of $19.87 and additional support at the 50-day MA of $18.21.

In the past 52 weeks, Symantec share prices have been bracketed by a low of $16.14 and a high of $26.16 and closed yesterday at $21.02, 30% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has declined 1.3%.

SmarTrend is tracking the current trend status for Symantec and will alert subscribers who have SYMC in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades Symantec

Ticker(s): SYMC