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Fly News Breaks for November 26, 2019
PANW
Nov 26, 2019 | 09:10 EDT
JPMorgan analyst Sterling Auty lowered his price target for Palo Alto Networks to $284 from $300 citing the company's "self-inflicted" product issues in fiscal Q1. The quarter will leave investors "feeling uneasy about the health of network security, demand for cyber security, and where we are in the shift to the cloud," Auty tells investors in a post-earnings research note. He believes the product revenue issues are a result of overstimulating focus on cloud security products through the use of temporary sales incentives. Auty keeps an Overweight rating on Palo Alto.
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