FireEye Shares Gain As Wedbush Initiates Coverage At Outperform

Shares of FireEye Inc. rose Thursday after analysts at Wedbush initiated coverage of the stock with an outperform rating and assigned a 12-month price target of $63. "FEYE has built a leading position in next-generation cybersecurity and is growing rapidly due to adoption of its technology for advanced threat protection," said analyst Steve Koenig at Wedbush. There is also growing awareness of the FireEye brand due to the network security company's involvement in investigating recent security breach incidents, he said. FireEye shares gained 1.1% to $51.51 late Thursday.