Gen Digital (GEN – Research Report), the Technology sector company, was revisited by a Wall Street analyst today. Analyst Tomer Zilberman from Bank of America Securities reiterated a Buy rating on the stock and has a $33.00 price target.
Tomer Zilberman has given his Buy rating due to a combination of factors that highlight Gen Digital’s strong performance and future potential. Despite macroeconomic concerns, the company demonstrated solid revenue growth in the fourth quarter, surpassing market expectations. The acquisition of MoneyLion is seen as a strategic move that aligns with Gen Digital’s long-term growth strategy, further supporting the Buy rating.
Additionally, the company’s management has projected a 7% revenue growth for FY26, indicating confidence in their business model despite some variability in guidance assumptions. The growing subscription base, particularly with a significant portion of Norton users adopting multiple products, showcases demand resilience. Furthermore, the anticipated increase in capital allocation activities, such as share buybacks, in the latter half of FY26, is expected to enhance shareholder value, reinforcing the positive outlook on Gen Digital’s stock.
In another report released today, Wells Fargo also reiterated a Buy rating on the stock with a $37.00 price target.