McAfee Hit on Analyst Duel (MFE, SYMC)

Posted in General 
September 3rd, 2008

McAfee Inc. (NYSE: MFE) is trading lower just before the open.  The brokerage firm FBR has downgraded its rating on the data security company to “Underperform” from “Market Perform” in its coverage this morning.  The obvious concern is that companies are pulling back on certain data security spending efforts, although this differs from firm to firm.  Brokerage firm Jefferies has maintained a Buy rating and raised its target to $46 from $38 for the next year.

Shares of McAfee are down nearly 4% at $38.30 on only about 5,000 shares as of 9:22 AM EST.  The 52-week trading range is $27.80 to $41.66 and it trades about 1.6 million shares per day.  Options are liquid in this stock.

As far as data security stocks, Symantec (NASDAQ: SYMC) is often deemed as the main competitor to McAfee.

Jon C. Ogg
September 3, 2008

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