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RBC and MKM are upgrading Symantec (SYMC +13.6%) to Buy on account of the company's CEO switch,...

RBC and MKM are upgrading Symantec (SYMC +13.6%) to Buy on account of the company's CEO switch, which accompanied its FQ1 report (I, II). "Symantec was in deep need of a change in leadership and strategy," writes MKM, which wasn't happy with poor organic growth in the midst of aggressive M&A activity (I, II). The firm thinks the future could hold fewer acquisitions, more stock buybacks, a dividend, asset sales, better cost controls, and perhaps even a sale of the company.
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