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Fly News Breaks for September 7, 2018
PANW
Sep 7, 2018 | 09:10 EDT
BMO Capital analyst Keith Bachman raised his price target on Palo Alto Networks to $260 after its "very strong" Q4 results, with much of the upside in the quarter "driven by products". The analyst also keeps his Market Perform rating, saying the potential from the high-focus Application Framework segment will take time to realize. Bachman adds that investors' concerns about "aggressive M&A" could constrain multiple expansion on Palo Alto, even though he sees its current valuation as "reasonable".
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