FireEye, Inc. (NASDAQ:FEYE), the leader in stopping today’s advanced cyber attacks, and Belden (NYSE:BDC), a global leader in high quality, end-to-end signal transmission solutions for mission-critical applications, announced a partnership to provide integrated industrial network security solutions to critical infrastructure providers around the world.
Recent cyber attacks against the Ukrainian grid confirm ICS-CERT reports of a dramatic increase in cyber attacks that penetrate industrial control system networks over the last year and points out that more of these attacks are gaining access to the control system layer of the network. Access to the ICS network layer allows attackers to impact availability, reliability and safety of mission critical infrastructure.
“Industrial control systems are built on technology designed to last for decades that can’t easily be upgraded, patched or replaced with modern systems,” said David DeWalt, chairman of the board and CEO at FireEye. “By bringing FireEye, Belden and Tripwire technology together, we’re able to add advanced detection and visibility from the enterprise edge of the network to the ICS zone, and provide the services necessary to help mitigate an attack before an adversary can take down a key piece of critical infrastructure.”
Integrated Solutions Across The Industrial Network Security Lifecycle
Belden has been a technology leader in mission critical industrial networking solutions for over 100 years. With an industry-leading portfolio of solutions including GarrettCom, Hirschmann, Prosoft, and Tofino, Belden is a trusted partner in every major industrial market. Industrial cyber security continues to be a critical and strategic initiative for Belden as evidenced by their recent acquisition of Tripwire.
“Industrial cyber security is about uptime and safety,” said John Stroup, CEO of Belden. “We are a trusted partner in the industrial market because we understand their unique requirements and focus on delivering effective, pragmatic solutions designed for mission critical systems. Our partnership withFireEye is a natural extension of our cyber security strategy and makes it easier for our customers to protect themselves against the rising tide of ICS cyber attacks.”
FireEye brings to the partnership advanced detection capabilities, targeted threat intelligence, and specialized Mandiant ICS services. From Belden’s cybersecurity portfolio, customers have access to deep visibility, endpoint intelligence and change detection from Tripwire, secure non-invasive network segmentation from Tofino and ruggedized industrial networking solutions from GarrettCom. (Original Source)
Shares of FireEye closed last Friday at $16.46, up $0.68 or 4.31%. FEYE has a 1-year high of $55.33 and a 1-year low of $11.35. The stock’s 50-day moving average is $14.55 and its 200-day moving average is $25.42.
On the ratings front, FireEye has been the subject of a number of recent research reports. In a report issued on February 12, Deutsche Bank analyst Karl Keirstead maintained a Hold rating on FEYE, with a price target of $15, which represents a potential downside of 8.9% from where the stock is currently trading. Separately, on the same day, FBN’s Shebly Seyrafi reiterated a Buy rating on the stock and has a price target of $18.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Karl Keirstead and Shebly Seyrafi have a total average return of -3.7% and -2.0% respectively. Keirstead has a success rate of 36.2% and is ranked #3212 out of 3682 analysts, while Seyrafi has a success rate of 48.9% and is ranked #2951.
The street is mostly Bullish on FEYE stock. Out of 16 analysts who cover the stock, 10 suggest a Buy rating and 6 recommend to Hold the stock. The 12-month average price target assigned to the stock is $29.00, which implies an upside of 76.2% from current levels.
FireEye Inc provides cybersecurity solution for detecting, preventing and resolving cyber-attacks that evade legacy signature-based security products. Its solutions include traditional and next-generation firewalls, IPS, anti-virus, and gateways.