- While Symantec continues to display strong opex discipline, revenue growth is finally picking up, giving confidence in the FY15 guidance.
- Former CEO Bennett was on the right track. We believe that the Board fired him to push for a sale of the company.
- Symantec is a perfect target for private equity firms: it offers a low valuation (12.5x 2015 EPS) and generates significant cash-flows.
- Symantec appears as a defensive tech play in these tough market conditions, with significant upside potential if M&A materializes.