Goldman Sachs Bullish on Palo Alto Networks (PANW)

							Robert DeFrancesco’s
TechStockProspector.com
August 14, 2012


Goldman Sachs Bullish on Palo Alto Networks (PANW)
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*Is Akamai Technologies getting its momentum back?
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*Why some big money managers like Ultimate Software
*Assessing Citrix Systems amid the changing networking landscape
*Is Palo Alto Networks worth the price?
*Sourcefire builds its networking security deal pipeline
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*Acme Packet pushes out rebound hopes to 2013
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Goldman Sachs starts coverage of networking security vendor Palo Alto
Networks (PANW, $61.05) at ‘Buy’ with a price target of $78.

The firm is bullish based on the theory that Palo Alto is disrupting the $10-billion+
networking security market by replacing older technology with more-robust next
generation firewalls (NGFWs).

Goldman thinks investors are underestimating Palo Alto’s product differentiation
and growth sustainability.
However, Barclays is more cautious because of valuation, initiating coverage with an
‘Equal Weight’ rating and a price target of $58, saying the multiple is too rich even
though it expects meaningful revenue and margin upside from Palo Alto over the
medium term.

Palo Alto Networks came public last month at $42 a share and opened for trading at
$55.20.

For more on Palo Alto Networks and its growth prospects, see the August 2012
issue of Tech-Stock Prospector.

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