Tenable downgraded to Hold from Buy at Stifel

Stifel downgraded Tenable (TENB) to Hold from Buy with a price target of $45, down from $46, following a transfer of coverage. While Tenable is a “solid asset,” Stifel is taking a cautious approach to the vulnerability management market overall, as checks suggest it is a relatively lower cybersecurity priority, the analyst tells investors in a research note. Stifel acknowledges Tenable’s valuation is “undemanding” and that the company is a potential takeout target, but it awaits further signs of execution progress and improving vulnerability management prioritization before becoming more constructive on the shares.