It is prudent to assume that there will be some near-term impact on operating results.
Sarah Friar
results impact
McAfee's fourth-quarter preannouncement had a bark that may ultimately prove to be worse than its bite. With some time to digest and the stock already trading at a significantly discounted valuation of just 8 times enterprise value-to-adjusted free cash flow, we see room for recovery.
time enterprise flow times free recovery cash worse
We are maintaining our 'in-line' rating on the stock, but our key message to investors would be not to panic given that the bookings number was not bad and should provide increased support to revenue estimates in 2006.
estimates key support bad panic message
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