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Fly News Breaks for August 31, 2016
PANW
Aug 31, 2016 | 08:43 EDT
After Palo Alto reported stronger than expected results but its guidance indicated that it expects its business to decelerate in fiscal 2017, RBC Capital analyst Matthew Hedberg says that the stock could remain range bound in the near-term. However, he says that the stock should rebound in a year as the company's licenses should accelerate into fiscal 2018, and he expects the company to gain market share. He trimmed his price target on the stock to $175 from $185 but keeps an Outperform rating on the shares.
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