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Fly News Breaks for January 17, 2017
PANW
Jan 17, 2017 | 10:35 EDT
Wunderlich analyst Bill Choi analyzed Palo Alto Network's customer cohert data and as a result increased his billings and cash flow estimates. The analyst said the lifetime value of purchase orders for earlier cohorts show a consistent growth patter, and their extension into 2017 and 2018 support approximately 30% billings growth. Choi raised his billings growth estimate to 29% from 25% in 2017 resulting in 2.46B, versus $2.38B and $3.16B for 2018. The analyst rates shares a Buy with a $190 price target.
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