FireEye (FEYE) PT Raised to $60 at Piper Jaffray Following Analyst Day

Piper Jaffray analyst Andrew Nowinski reiterated an Overweight rating and boosted his price target on FireEye, Inc (NASDAQ: FEYE) to $60.00 (from $50.00) after the company 2015 Analyst Day which highlighted a clearer path to profitability in 2019.

Nowinski commented, "We attended FireEye’s Analyst event on Wednesday and came away more confident in the company’s ability to reach operating targets, though the timing (2019) was slightly farther out than our original expectations. Nonetheless, we believe FireEye’s platform approach (products, services and intelligence) will continue driving market share gains and could enable the company to achieve these targets prior to 2019. As such, we are raising our estimates and price target to $60 (prev $50)."

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 $47.69 yesterday.

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