NEW YORK (TheStreet) -- Shares of Symantec (SYMC) - Get Symantec Corporation Report were climbing in late-afternoon trading on Friday as Citi raised its rating to "buy" from" neutral" after resuming coverage of the stock, the Fly reports.
The firm also increased its price target to $26.50 from $17.50 on shares of the Mountain View, CA-based provider of security and information management solutions.
Citi is positive on financial accretion from the Blue Coat acquisition and views the revenue targets as conservative, the Fly said.
In June, Symantec said it would buy the security and networking solutions company for about $4.65 billion in cash.
Earlier this week, Goldman Sachsreinstated coverage of Symantec stock with a "buy" rating and $26 price target, citing the Blue Coat acquisition.
Separately, TheStreet Ratings Team has a "Hold" rating with a score of C+ on the stock.
The primary factors that have impacted the rating are mixed. The company's strengths can be seen in multiple areas, such as its expanding profit margins, increase in stock price during the past year and growth in earnings per share.
But the team also finds weaknesses including disappointing return on equity and weak operating cash flow.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: SYMC