Cowen Upgrades Palo Alto Networks (PANW) to Outperform

Cowen upgraded Palo Alto Networks (NYSE: PANW) from Market Perform to Outperform with a price target of $205.00 (from $175.00), saying the company is thriving in this elevated threat environment.

Analyst Gregg Moskowitz commented, "We are upgrading our rating on PANW to Outperform from Market Perform. Following 1) our recent checks that indicate continued strong momentum, 2) a higher level of optimism in upside to our CY15-16 ests., and 3) the build-out of preliminary CY17 numbers that, in our view, actually makes valuation look inexpensive relative to growth, we believe the shares have more room to run."

For an analyst ratings summary and ratings history on Palo Alto Networks click here. For more ratings news on Palo Alto Networks click here.

Shares of Palo Alto Networks closed at $173.90 yesterday.

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