Deutsche Bank Ups McAfee to Buy from Hold

Says the security company's share prices already reflect risks from the competition

Deutsche Bank upgraded McAfee (MFE) to buy from hold, citing the security company's rivals and stock valuation.

Analyst Todd Raker says prices already reflect risks such as competition from the technology heavyweight Microsoft (MSFT). Raker believes McAfee's consumer business remains solid. He also notes that the computer maker Dell (DELL) is making McAfee both the default and recommended solution for Dell's customers. Meanwhile Microsoft's initial price point for its long-awaited OneCare security subscription services compares favorably to McAfee's current price structure. In addition, the analyst believes McAfee is picking up market share from its rival Symantec (SYMC). He has $30 price target on the stock.

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