UPDATE: Jefferies & Company Reiterates Hold Rating, Lowers PT on Sourcefire
In a report published Friday, Jefferies & Company reiterated its Hold rating on Sourcefire (NASDAQ: FIRE), but lowered its price target from $55.00 to $50.00.
Jefferies noted, “3Q results were inline with the preliminary announcement with revenue slightly above the high end of the range. 4Q guidance is inline with our model and slightly above consensus with partner scale continuing to underpin overall strong growth. Shares are seeing a relief given the pullback into earnings and measurable new product revenue scale remains a determining factor for CY13+ growth.”
Sourcefire closed on Thursday at $48.48.
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