UPDATE: FBN Securities Raises PT to $55 on Sourcefire; Continued Growth

FBN Securities raises its price target from $42 to $55 on Sector Perform-rated Sourcefire FIRE as the company continues its impressive growth. FBN Securities comments, "FIRE continues to post very strong growth (50% revenue growth, 76% billings growth) and is guiding revenue growth to decelerate to 28-33% Y/Y (implies 0-5% Q/Q) in FQ2. With strong momentum, and an intention to increase the number of channel partners perhaps around 11% Q/Q over the next several quarters, FIRE should be able to grow much faster than its guidance." FIRE closed at $50.99 on Monday.