Oppenheimer Raises Palo Alto Networks PT To $115 Following Meetings With Management

In a research report issued today, Oppenheimer analyst Shaul Eyal reiterated an Outperform rating on Palo Alto Networks (NYSE:PANW), and raised his price target to $115 (from $100).

Eyal noted, “Following meetings with management, we reiterate our Outperform rating and are raising our PT to $115 from $100. Our bullish view is based on the following: 1) Growing customer base to which more products could be up-sold; 2) High-end appliances (PA 7050) expanding TAM by another $1.5B; 3) Clear product road map suggesting a gradual shift to higher subscription contribution as well as the end-point market; 4) Overall refresh cycle in the firewall arena supporting north of 30% growth rate in coming years.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Shaul Eyal has a total average return of 5.8% and a 58.8% success rate. Eyal has a 17.4% average return when recommending PANW, and is ranked #603 out of 3337 analysts.

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