UPDATE: FBR Capital Upgrades Palo Alto Networks
On Tuesday, FBR Capital upgraded shares of Palo Alto Networks (NYSE: PANW) from Market Perform to Outperform and raised the price target from $80 to $90.
Analyst James Moorse sees faster than expected adoption of the company's platform as well as a sales force that is more productive than competitors.
While the Juniper lawsuit is not completely behind Palo Alto Networks, it is less of an overhang.
The analyst is expecting 45 and 35 percent revenue growth in 2014 and 2015 respectively.
Shares of Palo Alto Networks are down 0.4 percent to $72.86.
Latest Ratings for PANW
|Nov 2014||Credit Suisse||Maintains||Outperform|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.