UPDATE: Morgan Keegan Raises Target to $42 on Sourcefire

Morgan Keegan increases its target price on Outperform-rated Sourcefire (NASDAQ: FIRE) on improving fundamentals.

Morgan Keegan says, "Overall, we believe that increasing awareness of the escalating threat environment and the need for a deeper layer of network security beyond traditional firewall technology continues to drive spending on solutions for intrusion detection and prevention. In our opinion, SourceFire remains well positioned for share gains and to capitalize on the large adjacent opportunity in the next-gen firewall market."

FIRE closed at $35.82 a share on Tuesday.