MCFE - McAfee shares gain as UBS highlights PC Amazon strengths

Gaining confidence in the growth trajectory for the company's consumer franchise, UBS rates McAfee (MCFE) at Buy and raises the price target from $20 to $23.Analyst Fatima Boolani notes strong Q4 PC shipment data and the estimated 3M net subscriber adds in 2020, which would establish a strong renewal base for 2021.Boolani thinks the consumer franchise can continue percentage gains in the teens range.The analyst also notes the "Amazon Prime SoHo" opportunity. In a partnership announced last November, McAfee provides exclusive offers for Amazon's Business Prime members in the United States.Boolani calls the late February Q4 report the next major catalyst as management "continues to establish execution credibility and investor engagement."McAfee shares are up 3.5% to $19.99.The cybersecurity pioneer returned to public trading in October 2020, raising $740M in the offering.

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McAfee shares gain as UBS highlights PC, Amazon strengths