NEW YORK (TheStreet) -- FireEye (FEYE) - Get Report was gaining 1.9% to $30.00 Thursday after Stifel Nicolaus initiated coverage of the company with a "buy" rating.

The analyst firm set a price target of $45 for the company. "FireEye has been rapidly expanding its product portfolio, both organically and through acquisition, most recently with the acquisition of Mandiant," analyst Gur Talpaz wrote.

Talpaz also praised FireEye's subscription revenue model saying that it is "generating both up-front product and ratable recurring revenue from sales of its core appliance-based solutions."

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FEYE data by YCharts

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