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Fly News Breaks for March 8, 2016
FEYE
Mar 8, 2016 | 15:10 EDT
FBN Securities analyst Shebly Seyrafi raised his price target on FireEye shares to $25 from $18 after attending the company's analyst day meeting, noting that the company now expects to have positive non-GAAP operating margins in the second half of the fiscal year, which is much sooner than he expected. Seyrafi said the company is maintaining its prior FY16 revenue and billings guidance, but he is raising his estimates slightly given the company's confidence in its subscription business. The analyst keeps an Outperform rating on FireEye shares.
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