Palo Alto Networks (PANW) PT Raised to $120 at Northland Capital Markets on 'Robust' Q1
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Rating Summary:
46 Buy, 18 Hold, 0 Sell
Rating Trend: Down
Today's Overall Ratings:
Up: 20 | Down: 14 | New: 22
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Northland Capital Markets analyst Jeff Kvaal reiterated an Outperform rating and boosted his price target on Palo Alto Networks (NYSE: PANW) price target of $120.00 (from $115.00) following 'robust' Q1 results.
Kvaal commented, "Palo Alto delivered robust 1Q results and laid the foundation for further upside in coming quarters. We are lifting our high end estimates once again. We are raising our price target from $115 to $120 on 9x price to sales...though admit PE valuations require some contortions."
The firm raised Q2 EPS from $0.15 to $0.18 and FY 2015 EPS from $0.71 to $0.79.
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 $113.26 yesterday.
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