BofA/Merrill Lynch Upgrades FireEye, Inc (FEYE) to Buy, "Eyeing A Turnaround"
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Rating Summary:
13 Buy, 24 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 11
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BofA/Merrill Lynch upgraded FireEye, Inc (NASDAQ: FEYE) from Neutral to Buy with a price target of $18.00 (from $13.50).
Analyst Tal Liani commented "FireEye’s core value proposition is centered around having some of the most advanced threat intelligence that lends its value to three areas of innovation: dealing with network threats, strong position in endpoint protection and above all is the value of analytics and threat management. In addition, FireEye’s incident response and remediation service both stand on its own merits, yet also helps source new solution sales. We identify three key drivers for growth, serving as potential catalysts for the stock: There are 6000 appliances that are due a refresh, representing $200mn of market opportunity. New products: cloud MVX, Smart grid, Helix, enhancements to FireEye-as-a-Service and the next gen endpoints. Third, improvements to its go-to-market, recently adding new sales leadership, removing sales capacity constraints, and substantially reducing the channel partner conflict. We think the Street largely ignores management’s guidance for growth resumption in 2H17, which is an opportunity for a positive surprise."
For an analyst ratings summary and ratings history on FireEye, Inc click here. For more ratings news on FireEye, Inc click here.
Shares of FireEye, Inc closed at $10.73 Friday.
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