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Fly News Breaks for May 27, 2016
PANW
May 27, 2016 | 06:03 EDT
Deutsche Bank analyst Karl Keirstead downgraded Palo Alto Networks to Hold after the company's product revenue growth decelerated to 33% in Q3 from 46%-47% in prior quarters. The beat in Q3 was just 2% and back-end loaded, Keirstead tells investors in a post-earnings research note. He cut his price target for the shares to $150 from $210. JPMorgan this morning explained why the market should like Palo Alto's Q3 results. The stock traded down 11%, or $16.30, to $132.00 last night in after-hours trading.
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