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BMO lowers FireEye target on earnings, valuation

Aug. 02, 2018 8:54 AM ETAlphabet Inc. (GOOG) StockGOOGBy: Brandy Betz, SA News Editor8 Comments
  • BMO Capital lowers its FireEye (NASDAQ:FEYE) price target by a dollar to $17.
  • Firm notes that the company mostly maintained its 2018 outlook but slightly raised billings guidance. Q3 billings was about in-line with consensus while the implied Q4 billings were disappointing considering the easy comparisons in the quarter. 
  • Despite improving operating profitability and the company being on track to reach its 2018 targets, BMO finds it hard to build a compelling valuation case. 
  • Source: Briefing.com. 
  • FireEye shares are down 3.8% premarket to $15.10.       
  • Previously: FireEye -2% after Q2 beats, in-line guide (Aug. 1)

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