UPDATE: UBS Upgrades FireEye Inc
UBS analyst Brent Thill upgraded shares of FireEye Inc (NASDAQ: FEYE) from Neutral to Buy and maintained a $40 price target.
Thil explained that with the stock down ~27 percent year to date, he sees "at least" 17 percent upside to the current levels. He also noted FireEye trades at a discount to peers despite a better growth profile.
Thill believes the stock will see upward revisions due to:
- Increased strength in an already robust demand
- Contributions from new products
- An improving strategic position in the sector
- An increased uptake in subscriptions and services
Amid the upgrade, FireEye shares were up 2.8 percent.
Latest Ratings for FEYE
|Jan 2017||Standpoint Research||Initiates Coverage On||Buy|
|Jan 2017||BMO Capital||Initiates Coverage On||Market Perform|
|Nov 2016||Goldman Sachs||Downgrades||Neutral||Sell|
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.