UPDATE: Stifel Initiates Coverage on Proofpoint
January 15, 2014 at 10:47 AM EST
In a report published Wednesday, Stifel analyst Todd Weller initiated coverage on Proofpoint (NASDAQ: PFPT ) with a Buy rating, establishing a $43.00 price target. According to the report, the Buy rating and price target are based on an EV/revenue multiple of 8.5x the analyst's 2015 revenue estimate. “We
