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UPDATE: Nomura Initiates Palo Alto Network at Neutral on Risk/Reward

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Nomura initiated coverage on Palo Alto Networks (NYSE: PANW) with a Neutral rating and a $60 price target.

Nomura commented, "Palo Alto's core NGFW technology helps businesses enable their employees to safely use next-generation Web applications (e.g., Facebook, LinkedIn, and DropBox) and strengthens security across organizations. While the company's small size in a competitive and penetrated market would typically be a red flag, Palo Alto's leadership position in the disruptive NGFW market, coupled with a seasoned and respected management team, has helped the company achieve exceptional growth rates and go to market effectively against entrenched competitors. Despite We believe that the risk / reward is balanced given the current high valuation."

Palo Alto Network closed at $56.01 on Monday.

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: NomuraAnalyst Color Initiation Intraday Update Analyst Ratings

 

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