NortonLifeLock’s (NLOK) Norton Security Universal Windows Platform (UWP) app will come pre-installed on select new Lenovo laptops, including the Yoga 5G (known as Lenovo Flex 5G in the U.S.), IdeaPad 5G and IdeaPad 4G LTE.
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Notably, the collaboration is an extension of NortonLifeLock and Lenovo’s existing partnership of more than 20 years. The collaborative effort was driven by the need for robust and efficient device security amid the rapid adoption of 5G, along with an everything-from-home era. (See NortonLifeLock stock chart on TipRanks)
The Chief Commercial Officer of NortonLifeLock, Robert Clarkson, said, “We’re thrilled to expand our work with a forward-thinking brand like Lenovo that has truly opened the door to 5G-connected laptops. Through our collaboration, we’re able to secure the next generation of technology and further protect consumers’ digital lives.”
Recently, NortonLifeLock confirmed its impending merger with cybersecurity firm Avast (GB:AVST) to expand its consumer software portfolio. Following this news, Barclays analyst Saket Kalia reiterated a Buy rating on the stock, while raising the price target to $32 from $31 (24.1% upside potential).
Kalia raised his outlook on the prospects of the stock to account for lower interest expense and share count stemming from the convert paydown.
Consensus among analysts is a Strong Buy based on 6 Buys and 2 Holds. The average NortonLifeLock price target of $29.29 implies 13.6% upside potential to current levels.
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