Palo Alto Networks Inc (NYSE:PANW) Adds 2% on Barclays Upgrade

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Palo Alto Networks Inc (NYSE:PANW) shares were higher nearly 3% in recent trade as Barclays upgraded the network security platform’s stock to overweight from equalweight, while retaining a price target of $78.00.

PANW is trading above the midpoint of the 52-week range between $39.08 and $80.84.

Analysts have a consensus price target of $70 on Palo Alto Networks Inc (NYSE:PANW) which indicates a 9% upside. The consensus rating of the stock is a BUY with a score of 2.71. There are currently 6 Hold Ratings and 15 Buy ratings on the stock.

Stephens also upgraded the stock today from Equal Weight to Overweight, boosting their price target to $78.

In Other News

Koppers Holdings (NYSE:KOP) shares were higher nearly 8% in recent trade after sayng it has agreed to by Osmose Holdings’ Wood Preservation and Railroad Services businesses for $460 million.

The acquired businesses had revenues of approximately $390 million in 2013. KOP is trading near the mid-point of the 52-week range between $34.69 and $49.99.

The producer of carbon compounds and treated wood products said it plans to finance the acquisition with new and existing bank debt, including a new term loan and an increase to the company’s existing revolving credit facility. The deal is expected to close in Q3.

According to Koppers, the Wood Preservation business develops, makes and sells preservation chemicals and wood treatment technologies. The Railroad Services business provides railroad infrastructure services including bridge inspection, engineering, maintenance and repair.

 

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