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UPDATE: Bank of America Initiates Palo Alto Networks at Neutral, $65 PO

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Bank of America has initiated the coverage of Palo Alto Networks (NYSE: PANW) with a Neutral rating and $65 price objective.

Bank of America noted, "We are initiating coverage on Palo Alto Networks (PAN) with a Neutral rating and $65 PO. We favor the company's technological disruption, creating a new product category of Next-Generation Firewalls, as well changing the pricing model for the industry. However, growing competition and valuation considerations keep us cautious, with a $65 PO, based on a ~6x our 2015E EV/Sales multiple."

Palo Alto Networks closed at $51.96 on Thursday.

Latest Ratings for PANW

DateFirmActionFromTo
May 2015Evercore PartnersInitiates Coverage onHold
Apr 2015JMP SecuritiesMaintainsMarket Outperform
Apr 2015Imperial CapitalInitiates Coverage onOutperform

View More Analyst Ratings for PANW
View the Latest Analyst Ratings

Posted-In: Bank of AmericaAnalyst Color Initiation Analyst Ratings

 

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