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Symantec shares seen improving: Barron's

NEW YORK
Sun Nov 11, 2007 3:28pm EST

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NEW YORK (Reuters) - Symantec (SYMC.O) shares may be poised to rise, despite concerns about the business spending environment that have hurt technology stocks including Symantec, according to Barron's financial newspaper.

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What is more, Barron's, in its November 12 edition, suggests Symantec could spark the interest of potential acquirers like International Business Machines (IBM.N) or Hewlett Packard (HPQ.N).

The paper noted that investment firm Friedman Billings Ramsey last week added Symantec to its top picks, saying that it believes business should "reaccelerate" over the next 12 to 18 months."

Friedman Billings Ramsey analyst Daniel Ives thinks the company's shares are worth $24, and that it is well placed to penetrate the corporate and consumer markets with its security and storage systems.

Shares of Symantec closed on Friday at $16.90 on Nasdaq.

(Reporting by Franklin Paul, editing by Maureen Bavdek)
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