Palo Alto Networks shares are pacing S&P 500 laggards on Friday following a downgrade at HSBC. They're off more than 5% in afternoon action. Analyst Stephen Bersey weighed in on the company's ...
HSBC analyst Stephen Bersey downgraded Palo Alto Networks (PANW) to Reduce from Hold with a price target of $291, down from $304. At current trading levels, the firm considers the stock expensive.