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Symantec Jumps as Goldman Sees 'Sustained Growth'

M. Corey Goldman

posted strong gains on Monday after receiving an upgrade from analysts at Goldman Sachs, who believe the company has room for "sustained growth" among its current billings. Symantec stock was up nearly 7% in trading Monday on the New York Stock Exchange, rising $1.58 to $24.57, after Goldman Sachs analyst Gabriela Borges upgraded the company to a buy from neutral and raised her 12-month target price to $28 from $23. The analyst also pointed to expectations of "sustained growth" in current billings, which she considers the main indicator of the current and future success of Symantec's enterprise business.