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UPDATE: UBS Upgrades FireEye Inc

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FireEye to Announce Q4, FY 2013 Results on February 11, 2014, After the Market Close

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:

  1. Increased strength in an already robust demand
  2. Contributions from new products
  3. An improving strategic position in the sector
  4. An increased uptake in subscriptions and services

Amid the upgrade, FireEye shares were up 2.8 percent.

Posted-In: Brent Thill UBSAnalyst Color News Upgrades Price Target Analyst Ratings

 

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