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Fly News Breaks for May 12, 2016
PANW
May 12, 2016 | 06:35 EDT
Piper Jaffray analyst Andrew Nowinski lowered his price target for Palo Alto Networks to $180 ahead of the company's Q3 results on May 26. A recent round of security sector channel checks suggests a broader slowdown in demand trends, Nowinski tells investors in a research note. He expects Palo to report "solid' Q3 results but has concerns about billings growth expectations in the forward quarters. Nowinski keeps an Overweight rating on the shares.
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