Barclays Maintains an 'Equalweight' on Palo Alto Networks (PANW); Strong Start, But...

Barclays maintains an 'Equalweight' on Palo Alto Networks (NYSE: PANW) price target of $58.00.

Analyst, Jeff Kvaal's highlighted points include: 1) Palo Alto's first quarter post IPO was generally in line with investor expectations; 2) Near term sales trajectory robust despite weak EMEA; 3) Determining slope of sales deceleration will be difficult; and 4) EPS lift in line with investor expectations: We lift our CY13 EPS from $0.14 to $0.26,
which includes $0.09 from lower taxes.

Overall, Kvaal thinks PAN's leadership and opportunity in NG firewalls is reflected in its
valuation.

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 $71.75 yesterday.

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