Fly News Breaks for January 24, 2019
PANW
Jan 24, 2019 | 07:18 EDT
As previously reported, Wedbush analyst Daniel Ives upgraded Palo Alto Networks to Outperform from Neutral and raised his price target on the shares to $265 from $225. The analyst says that his conversations with customers and partners as well as his field checks have given him incremental confidence in the Palo Alto growth story over the next 12-18 months. While there are still "some wrinkles to iron out" on the product strategy looking ahead and competitive landscape with laser focused cloud competitors, Ives strongly believes that numbers for FY19/FY20 look conservative and the Street is still underestimating the magnitude of this existing firewall refresh for the company as a major tailwind over the next few years.
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