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Fly News Breaks for March 1, 2017
PANW
Mar 1, 2017 | 08:29 EDT
After Palo Alto Networks reported quarterly billings that were 4% below consensus and gave effective billings guidance that was about 17% below the Street forecast, Maxim analyst Nehal Chokshi said he believes Palo Alto's brand recognition has grown to "what likely represents close to a zenith," but that it is not in decline. While he sees the guidance as a "huge disappointment," he also expects "aggressive buyback activity" to provide support for the shares and keeps a Buy rating on the stock. Chokshi lowered his price target on Palo Alto shares to $168 from $185.
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