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Fly News Breaks for October 23, 2015
FEYE
Oct 23, 2015 | 07:05 EDT
Wedbush downgraded FireEye to Neutral and lowered its price target to $32 from $41 on shares. Analsyt Steve Koenig's reseller checks increase his concern of growing competition with firewall vendors for advanced threat protection sold to the network buyer is a potential game changer for FireEye. Koenig's checks indicate Palo Alto Networks (PANW) WildFire continues to gain traction as a relatively low-cost add-on to its firewall and Check Point's (CHKP) new SandBlast is appealing to its own customers. Koenig believes these low-cost add-on firewall subscriptions are attractive to cost-conscious companies, which will further pressure FireEye.
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