The Mountain View, CA-based security, backup and availability solutions company has been "plagued by structural headwinds and declining customer relevance for several years now," analysts said.
"We believe the path to operational improvement, sustained organic growth, and/or asset value realization will be a long and arduous one. While we are encouraged by the appointment of Michael Brown as CEO, we are not convinced the spin-off of Symantec's storage business will ultimately create value," analysts added.
Shares of Symantec closed up 0.36% at $25.40 yesterday.
Separately, TheStreet Ratings team rates SYMANTEC CORP as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate SYMANTEC CORP (SYMC) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its increase in stock price during the past year, notable return on equity, reasonable valuation levels, growth in earnings per share and expanding profit margins. We feel these strengths outweigh the fact that the company shows weak operating cash flow."