UPDATE: Topeka Capital Markets Initiates Palo Alto Networks at Buy on Margin Expansion

Topeka Capital Markets initiated coverage on Palo Alto Networks

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.