UPDATE: Jefferies Reiterates Hold Rating, Raises PT on Sourcefire Following 2Q Results Report

In a report published Tuesday, Jefferies analyst Aaron Schwartz reiterated a Hold rating on Sourcefire FIRE, and raised the price target from $54.00 to $76.00. In the report, Jefferies noted, “FIRE reported upside 2Q results with a reacceleration in product and total revenue in the period as overall deal volume, and federal contribution were areas of strength. We made modest estimate revisions but overall deal valuation remains essentially unchanged and we expect the deal to proceed in its current form.” Sourcefire closed on Monday at $75.47.