SunTrust upgrades FireEye to Buy amid tensions in Iran and Iraq

SunTrust analyst Joel Fishbein upgraded FireEye to Buy from Hold with a price target of $22, up from $15. The stock closed Monday up 38c to $17.59. Recent events in Iran and Iraq have put the spotlight on cybersecurity and will lead to increased government and private sector spending in both fiscal 2020 and 2021, Fishbein tells investors in a research note. Improved operating performance, a “favorable tailwind” due to recent geopolitical events, and a potential sale serve as catalysts for FireEye shares to move higher, contends the analyst.