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Fly News Breaks for May 27, 2016
PANW
May 27, 2016 | 08:48 EDT
Bernstein believes that Palo Alto reported "good" results. The firm says that the results support its thesis, as billings growth continued to outpace revenue growth and the company is capturing 40% of the revenue from new security deals. The firm thinks that the company's revenue can "easily double over the next three years," making its valuation very attractive. It keeps a $200 price target and Outperform rating on the shares.
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