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Fly News Breaks for February 27, 2018
FTNT, PANW
Feb 27, 2018 | 07:45 EDT
BMO Capital analyst Keith Bachman raised his price target on Palo Alto Networks (PANW) to $190, saying that investor sentiment around the "perimeter firewall sector" should improve after several years of overhanging worries around the impact of cloud and competition. Bachman believes that Palo Alto Networks as well as Fortinet (FTNT) should benefit from "robust" spending in hybrid cloud security this year. The analyst keeps his Market Perform rating on Palo Alto however, adding he still has some concerns about the "durability of billings growth".
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