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Fly News Breaks for May 27, 2016
PANW
May 27, 2016 | 08:00 EDT
Oppenheimer analyst Shaul Eyal says Palo Alto Networks reported in-line Q3 results and provided guidance estimates slightly below consensus in light of macroeconomic issues. The analyst sees the shares' after-hours downward move of about 10% as an "interesting entry point" for long-term investors. Palo Alto Networks is seeing a "strong trend" in customer interest in purchasing subscription services supporting, longer term, a more visible model with minor short-term transition effects, Eyal tells investors in a research note. The analyst reiterates an Outperform rating and $177 price target on the shares.
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