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Fly News Breaks for December 13, 2018
FEYE
Dec 13, 2018 | 07:26 EDT
As previously reported, Morgan Stanley analyst Melissa Franchi downgraded FireEye to Equal Weight from Overweight citing the stock's recent relative outperformance with the shares up 20% in the past three months versus the average software name being down 9%. While the outperformance fairly reflects the company's improved product positioning, and Franchi sees a favorable set-up for low teens growth in FY19, she also thinks the set-up may be more challenging looking into FY20 and beyond. She maintains a $21 price target on FireEye shares.
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