Evercore ISI added Palo Alto Networks to the firm’s “Tactical Underperform” list ahead of next week’s fiscal Q4 earnings report while keeping an Outperform rating on the shares. Partner survey data were mixed data this quarter and there is a lack of conviction from investor conversations along with elevated sentiment, the analyst tells investors in a research note. The firm believes Palo Alto’s Q4 could serve as a clearing event to reset estimates, potentially offering a better buying opportunity.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PANW:
- Palo Alto Networks: Analysts Expect Q4 Earnings Dip
- Palo Alto Networks price target raised to $385 from $337 at Scotiabank
- Palo Alto Networks price target raised to $385 from $345 at Citi
- Palo Alto Networks price target raised to $360 from $330 at Stifel
- Palo Alto Networks price target raised to $350 from $325 at Barclays