UPDATE: Barclays Downgrades FireEye, Inc (FEYE) to Underweight

November 20, 2020 4:48 AM EST
Get Alerts FEYE Hot Sheet
Price: $18.27 -1.19%

Rating Summary:
    15 Buy, 24 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 7 | Down: 15 | New: 24
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(Updated - November 20, 2020 5:09 AM EST)

(updating comment)

Barclays analyst Saket Kalia downgraded FireEye, Inc (NASDAQ: FEYE) from Equalweight to Underweight with a price target of $17.00.

The analyst comments "We are downgrading FEYE to UW from EW, leaving our $17 PT unchanged for three reasons. First, the stock has reached our PT after-hours, which we sanity-check with our SOTP post Blackstone/Respond deals. Second, we think FEYE's plan to transform the business is the right one long term, but we think more M&A could be required and deals like Respond could require a premium. Third, we think there could be a broadening competitive backdrop in Platform - while FEYE clearly differentiates with threat intel and incident response advantages, we think competition could broaden with vendors in SIEM, endpoint, and email security. Stock has reached our $17 PT after-hours, which we have more conviction in after doing SOTP on FY22."

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 $14.24 yesterday.

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