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Fly News Breaks for August 31, 2016
PANW
Aug 31, 2016 | 07:30 EDT
After Palo Alto reported better than expected results but it provided product revenue guidance that was significantly below the consensus outlook, Wells Fargo says that the guidance is conservative. The firm was encouraged by the company's belief that its product revenue growth will accelerate in fiscal 2018. Wells was also encouraged by the company's new product and appliance subscription data. It keeps a $183-$191 price target and Outperform rating on the stock.
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