KeyBanc lowered the firm’s price target on Palo Alto Networks (PANW) to $205 from $240 and keeps an Overweight rating on the shares. The firm cites weaker macro survey data and lower peer multiples. KeyBanc’s checks indicate Q1 bookings may be fine but to get ready for cautious updated guidance as pipelines build while signings slow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PANW:
- Palo Alto Networks price target lowered to $205 from $230 at Morgan Stanley
- Judge tosses class action against Palo Alto Networks, Bloomberg reports
- Palo Alto Networks call volume above normal and directionally bullish
- Cybersecurity survey points to demand slowdown, says Jefferies
- Jefferies survey shows momentum for Check Point, slowdown for Varonis