UPDATE: Imperial Capital Initiates Coverage on FireEye on Balanced Risk/Reward

In a report published Tuesday, Imperial Capital analyst Michael Kim initiated coverage on

with an In-Line rating and $68.00 price target. In the report, Imperial Capital noted, “We are initiating coverage on FEYE with an In-Line rating and a one-year price target of $68. We believe FEYE possesses technology leadership in advanced threat protection and is achieving significant market share gains over legacy security vendors. We anticipate FEYE will increasingly leverage its innovative virtual machine-based security platform across enterprises' infrastructures. However, we think the stock offers balanced risk/reward at current levels, and we would look for a more attractive entry point into the stock.” FireEye closed on Monday at $63.50.