Palo Alto Networks (PANW) PT Lifted to $90 at Oppenheimer

Oppenheimer analyst Shaul Eyal reiterated an Outperform rating on Palo Alto Networks (NYSE: PANW) and boosted his price target to $90.00 (from $80.00) saying checks indicate a solid FY14 close.

Eyal commented, "We are raising our PT to $90 from $80 following a round of late-Q checks (25 VARs in US/EMEA) suggesting PANW's business is tracking ahead of consensus estimates ($161.3/$0.11). We remain positive on the shares for the following reasons: 1.) Continued strength across all core products and geographies (the Americas generates ~66% of total revenue) 2.) PANW's high-end appliance (PA-7050) is gaining further momentum 3.) Solid traction of Wildfire (APT solution) and 4.) We continue to see PANW as a market disruptor in the network security market."

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 $84.99 yesterday.

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