UPDATE: Topeka Capital Markets Initiates Palo Alto Networks at Buy on Margin Expansion
Topeka Capital Markets initiated coverage on Palo Alto Networks (NYSE: PANW) with a Buy rating and a $65 price target.
Topeka Capital Markets commented, "We are initiating coverage of Palo Alto Networks with a Buy rating and a $65 price target. We expect Palo Alto to couple rapid product revenue growth, and improving revenue visibility from its even faster growing subscription/service business with significant operating margin expansion that will fuel 90+% EPS growth for the next 2-3 years."
Palo Alto Networks closed at $49.35 on Thursday.
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