Loading...
Loading...
Stifel Nicolaus raises its price target from $46 to $64 on Buy-rated Sourcefire
FIRE as latest quarterly growth points to expanding opportunity.
Stifel Nicolaus notes, "Sourcefire delivered another solid quarter in which top line growth of 50%
marked further growth acceleration. We believe the strong performance reflects a strong network security demand environment, benefits from distribution expansion, an improved Fed spending backdrop, and some early product cycle benefits. We reiterate our Buy rating and are increasing our target price to $64. Our target represents an EV/revenue multiple of approximately 6.5x our 2013
estimate though our thought process revolved more around 2013 EPS power potential and we see our target implying approximately 40x potential earnings power."
FIRE closed at $50.99 on Monday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in