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Fly News Breaks for February 27, 2019
PANW
Feb 27, 2019 | 09:55 EDT
BMO Capital analyst Keith Bachman raised his price target on Palo Alto Networks to $285 and kept his Outperform rating after its "strong across the board" Q2 results. The analyst points to the company's "healthy" beat in billings and believes that its "growing installed base provides long-term durable growth in services." Bachman further contends that Palo Alto's Q3 guidance may be conservative, implying a 1% sequential decline relative to the 3% rise over the last two years, and its free cash flow valuation multiple is "reasonable".
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