FireEye Recovering Recent Losses After Topeka Upgrade

On Wednesday, Topeka Capital upgraded shares of FireEye FEYE from Hold to Buy and maintained the $70 price target. Analyst Frederick Ziegel believes profitability is “still a few years away” for the company. Investors will return to high-growth names, “particularly in markets as top-of-mind as security,” said the analyst. Shares of FireEye are up 4.3 percent to $54.61 following the upgrade. The stock is attempting to recover major losses this week after a brutal five week stretch, which sent shares down from its March high of $97.35.