Cowen Starts Palo Alto Networks (PANW) at Outperform

Cowen analyst Shaul Eyal initiates coverage on Palo Alto Networks (NYSE: PANW) with a Outperform rating and a price target of $425.00.

The analyst commented, "Using a combined build and buy strategy, PANW established a leading position in the security arena. Replicating its on-premise success in the burgeoning cloud space is critical as the model becomes more ratable. Improved transparency into its next-gen products (e.g. NGFW, Prisma, Cortex) supports growth & profitability as FCF production remains intact. Initiate Outperform & PT $425."

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 $365.08 yesterday.

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