RBC Capital upgrades PagerDuty (PD, $35.75), provider of an IT incident response platform, to ‘Outperform’ with a price target of $49. The firm believes the sharp pullback from the post-IPO high of $59.82 set on June 17 creates a more attractive long-term entry point. The firm points out that PagerDuty has the strongest renewal activity in FQ2 and FQ4. 

PagerDuty is set to report FQ2 results on September 5.

Canaccord ups its Lyft (LYFT, $62.10) price target to $78 from $75, citing a better competitive environment and new pricing power in some markets. The firm also calls out the company’s operating leverage and product innovation. Plus, Lyft delivered a significant guidance raise for 2019.

BofA/Merrill likes FireEye (FEYE, $14.26) on recent weakness, maintaining its price target of $20. The firm believes the margin pressure driven by the migration to public clouds from private is transitory and sees the company’s billings trends as indicative of a growth resumption.