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PANW

Palo Alto Networks

$203.29

0.06 (0.03%)

, FTNT

Fortinet

$70.50

-2.1 (-2.89%)

07:30
01/22/19
01/22
07:30
01/22/19
07:30

Palo Alto Networks upgraded to Outperform at BMO Capital on valuation

As previously reported, BMO Capital analyst Keith Bachman upgraded Palo Alto Networks (PANW) to Outperform and raised his price target to $240 from $205. The analyst expects the company to benefit from the network firewall market remaining healthy over the next several years with market share gains. Bachman also sees Palo Alto Networks' product revenue sustaining the near 9% growth rate in FY20 thanks to its "new customer adds and expansion from existing customers against the backdrop of a healthy security spending environment". Based on his greater confidence in the company's ability to sustain subscriptions growth relative to Fortinet (FTNT), the analyst believes that Palo Alto Networks offers investors "meaningful upside potential".

PANW

Palo Alto Networks

$203.29

0.06 (0.03%)

FTNT

Fortinet

$70.50

-2.1 (-2.89%)

  • 24

    Jan

  • 06

    Feb

  • 25

    Feb

PANW Palo Alto Networks
$203.29

0.06 (0.03%)

01/22/19
UBSW
01/22/19
UPGRADE
Target $250
UBSW
Buy
Palo Alto Networks upgraded to Buy from Neutral at UBS
UBS analyst Fatima Boolani upgraded Palo Alto Networks to Buy and raised her price target for the shares to $250 from $232. The company's "discounted" valuation is unwarranted as its key overhangs are dissipating, Boolani tells investors in a research note. The shares are near five-year troughs as mid-single-digit product growth is getting priced in, says the analyst However, she finds this incongruent with the "stable/better" demand trends her field work suggests. Palo Alto's relative underperformance, current attractive valuation, and an improving 2019 narrative create a 2.5 to 1 risk/reward on the stock, contends the analyst.
01/22/19
BMOC
01/22/19
UPGRADE
BMOC
Outperform
Palo Alto Networks upgraded to Outperform from Market Perform at BMO Capital
01/16/19
STFL
01/16/19
NO CHANGE
STFL
Checks show firewall spending remains 'robust,' says Stifel
Stifel analyst Gur Talpaz said his latest quarterly survey of 30 North American security-centric resellers left him "cautiously encouraged" about the overall security spending environment, particularly within the firewall space. Despite recent fears about an imminent slowdown in firewall spending, his checks point to a "robust" deal pipeline through 2019, particularly for Palo Alto Networks (PANW), Talpaz tells investors. Outside of Palo Alto, Talpaz also said he is "more optimistic" on Check Point (CHKP) than he has been "in some time." While he also noted that the was "generally pleased" that the number of resellers pointing to a decline in their Proofpoint (PFPT) business improve to the best level seen in 2018, Talpaz continues to see "work to be done." Others in the cybersecurity space include Rapid7 (RPD), FireEye (FEYE), Fortinet (FTNT), Symantec (SYMC) and CyberArk (CYBR).
12/10/18
GUGG
12/10/18
INITIATION
Target $256
GUGG
Buy
Palo Alto Networks initiated with a Buy at Guggenheim
Guggenheim analyst Imtiaz Koujalgi started Palo Alto Networks with a Buy rating and $256 price target.
FTNT Fortinet
$70.50

-2.1 (-2.89%)

01/22/19
BMOC
01/22/19
DOWNGRADE
Target $78
BMOC
Market Perform
Fortinet downgraded to Market Perform at BMO Capital on valuation
As reported earlier, BMO Capital analyst Keith Bachman downgraded Fortinet to Market Perform and lowered his price target to $78 from $90. The analyst notes that he is not bearish on the stock, expecting the firewall market to remain healthy for several years given the changing throughput requirements, but sees the rating change as reflective of its more balanced risk-reward. Based on Fortinet's enterprise value to free cash flow multiple, Bachman contends that its valuation "reflects its revenue growth and FCF generating capabilities."
01/22/19
BMOC
01/22/19
DOWNGRADE
BMOC
Market Perform
Fortinet downgraded to Market Perform from Outperform at BMO Capital
01/18/19
OTRG
01/18/19
DOWNGRADE
OTRG
Mixed
Fortinet downgraded to Mixed from Positive at OTR Global

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COST

Costco

$237.05

0.43 (0.18%)

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TRN

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COLL

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METC

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BDSI

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