Palo Alto Networks (PANW) PT Raised to $150 at Piper Jaffray
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Rating Summary:
46 Buy, 18 Hold, 0 Sell
Rating Trend: Down
Today's Overall Ratings:
Up: 9 | Down: 7 | New: 39
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Piper Jaffray analyst Andrew Nowinski reiterated an Overweight rating and boosted his price target on Palo Alto Networks (NYSE: PANW) to $150.00 (from $130.00).
Nowinski commented, "Palo Alto is our top pick for 2015. While shares are up 116% YTD (vs. +12% S&P500), we believe momentum can continue in 2015, driven in part by a shift in security spending toward vendors with comprehensive portfolios. Additionally, we believe the company’s highly differentiated products will enable win rates to remain above 85%,
with ramping contributions from Wildfire and Traps. We believe the current valuation underappreciates the sustainability of these advantages and therefore raise our price target to $150 (prev $130) as we roll out to CY16 estimates."
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 $124.36 yesterday.
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