Palo Alto Networks target raised to $240 at Stifel
Stifel raises their PANW tgt to $240 from $200 to better reflect their optimism in PANW's ability to sustain improved execution. During the course of the past few weeks, firm has conducted multiple checks on Palo Alto's recently closed F3Q18 (ended April '18). With the company set to report on June 4 (after the close), firm expects PANW to deliver results that point to sustained momentum following a string of strong prints going back to this time last year. While the majority of firm's checks pointed to strength, firm garners the most comfort from their checks into PANW's supply chain, where they again saw PANW slow down shipments into the end of the quarter, a clear indication in firm's view of "cushion building" for F4Q18