Palo Alto Networks (PANW): Channel Checks Indicate Upside Likely - Nomura
- AT&T (T) Agrees to Acquire Time Warner (TWX) for More than $80 Billion - WSJ
- Top 10 News for 10/17 - 10/21: Merger Rumors Abound; CEOs Depart; Tesla Kicks Autopilot Up A Notch
- Wall Street ends little changed; Microsoft hits record
- AT&T (T) in Advanced Talks to Acquire Time Warner (TWX) - DJ
- Rockwell Automation (ROK) Said to Attract Takeover Interest from Schneider Electric - Source
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
Nomura Securities analyst, Frederick Grieb, reiterated his Buy rating on shares of Palo Alto Networks (NYSE: PANW) along with the price target of $200 ahead of F4Q’16 earnings on Tuesday, August 30th. The stock is down 7% since F3Q’16 earnings (vs. the S&P 500 up 4%).
The analyst went on to note "Our checks for the quarter were generally positive on Palo Alto and support a quarter that is ahead of expectations. During the quarter, our survey indicated that 79% of resellers were running ahead of plan with Palo Alto sales, and the average reseller we spoke with was about 5.2% ahead of plan at the beginning of July. Based on these checks, we expect Palo Alto to report a quarter slightly better than the Street’s 4Q’16 revenue expectation of $389.9mn".
Shares of Palo Alto Networks closed at $137.54 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Stifel Upgrades PayPal (PYPL) to Buy Following 'Solid' Q3 Results
- FBR Capital Raises price Target on Gentex Corp (GNTX) to $22
- Jefferies Cuts Price Target on Crown Holdings (CCK) Following 3Q
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View
Related EntitiesStandard & Poor's, Nomura, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!