UPDATE: Jefferies Reiterates Hold Rating, Raises PT on Palo Alto Networks on Solid F2Q Results

In a report published Friday, Jefferies reiterated its Hold rating on Palo Alto Networks

, and slightly raised its price target from $59.00 to $60.00. Jefferies noted, “PANW reported solid F2Q results as it displayed continued market share gains with a building base of subscription services. PANW is early in the release phase for several solutions, and deal expansion metrics continue to move higher, which should lead to further upside. But at current levels, the stock is as much an ‘expectation' situation, which provides less room for error. And as such, we retain a more neutral view on the stock.” Palo Alto Networks closed on Thursday at $61.13.