MCFE - McAfee shares push higher after Deutsche upgrade touts 'better health'

Saying the "security franchise looks to be in better health than even we thought," Deutsche Bank upgrades McAfee (MCFE) from Hold to Buy and raises the price target from $20.50 to $23.50.The firm notes that revenue accelerated 23% in Q4 and expects outperformance to continue as PC sales remain strong and more critical/confidential operations are performed online.Deutsche remains cautious on "lackluster reseller commentary," but notes that MCFE management is open to separating businesses.A potential spin-off could unlock 20% upside for McAfee investors, says Deutsche.MCFE is up 8% pre-market to $21.Yesterday, McAfee reported Q4 beats with a strong revenue forecast.

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McAfee shares push higher after Deutsche upgrade touts 'better health'