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Fly News Breaks for March 11, 2019
FEYE
Mar 11, 2019 | 06:50 EDT
JPMorgan analyst Sterling Auty upgraded FireEye to Overweight from Neutral with an unchanged price target of $20. The stock's year-to-date performance has been 23% below the group's coverage, and the stock is now trading at 3.7 times estimated fiscal 2019 revenue estimates, Auty tells investors in a research note. This represents an attractive risk/reward profile as the company's billings will accelerate through the course of 2019, adds the analyst. Further, he believes FireEye's new packaging and enterprise on demand offering could provide a lift to growth.
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