Palo Alto Networks falls after Bernstein downgrades to Market Perform
Bernstein downgraded Palo Alto Networks to Market Perform from Outperform, citing high sector valuations. Analyst Peter Weed raised the price target to $351 from $253.
Shares of Palo Alto Networks (PANW, Financials) fell Friday after Bernstein cut its rating on the cybersecurity company to Market Perform from Outperform, citing high valuations across the sector. Bernstein analyst Peter Weed raised the price target to $351 from $253, though the new target remained below…