Market Overview

UPDATE: BMO Capital Markets Initiates Palo Alto Networks at Market Perform on Market Share Dependence

Share:
Related
Check Out Oppenheimer's Take On Software, Cybersecurity
CNBC's Stock Pops & Drops From April 13
Network Security Leader CyberArk Tries For Breakout (Investor's Business Daily)

BMO Capital Markets initiated coverage on Palo Alto Networks (NYSE: PANW) with a Market Perform rating and a $58.00 price target.

BMO Capital Markets commented, "During our diligence, we spent considerable time analyzing PANW's technology edge, separating fact from marketing hype. We conclude that PANW's edge is real and is rooted more in performance than in functionality breadth. However, we worry that overall enterprise firewall spending is slowing and that competition is likely to get even more intense in 2013. PANW shares trade at a discount to the high-growth software peer group, but in our view, this may be justified given PANW's dependency on share gains rather than overall market expansion as well as the risk associated with the Juniper lawsuit."

Palo Alto Networks closed at $57.60 on Monday.

Latest Ratings for PANW

DateFirmActionFromTo
Apr 2015OppenheimerMaintainsOutperform
Mar 2015NomuraMaintainsBuy
Mar 2015Pacific CrestMaintainsOutperform

View More Analyst Ratings for PANW
View the Latest Analyst Ratings

Posted-In: BMO Capital MarketsAnalyst Color Initiation Analyst Ratings

 

Related Articles (PANW)

Around the Web, We're Loving...