Bank Of America Sees Multiple Positive Factors Ahead For FireEye

In a report published Friday, Bank of America analyst Tal Liani reiterated a Buy rating and $44.00 price target on FireEye Inc (NASDAQ: FEYE).

In the report, Bank of America noted, “We met management at a quasi-analyst day held in New York. We believe management delivered a strong message on growing demand for advanced malware protection solutions driven by the worsening threat landscape. Companies are increasing security budgets and re-thinking their security architectures. Per management, current spend on APT products is just scratching the surface as the increasing cost of large scale breaches drives demand in geographic areas and in verticals that typically underspend on advanced technology. We are bullish on FireEye for the following reasons: 1) we believe expectations are low following three consecutive quarterly earnings hiccups 2) market leadership in one of the fastest growth segments in tech, and 3) superior technology and an achievable level of street estimates for 2015. We reiterate our Buy rating and $44 PO.”

FireEye closed on Thursday at $33.34.