Goldman Sachs analyst Gabriela Borges double upgraded FireEye (FEYE) to Buy from Sell and raised her price target for the shares to $15 from $10.
The provider of cybersecurity solutions closed yesterday up 5c to $11.49. Estimates are likely to move higher as momentum builds through 2017, Borges tells investors in a research note. The introduction of advanced analytics platform Helix addresses many of FireEye's previous challenges by reducing total cost of ownership by up to 50% while streamlining the company's go-to-market under its new head of sales, the analyst contends.
Borges coupled the double upgrade with a downgrade of Proofpoint (PFPT) to Sell.
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