Bullish Pac Crest note helps Palo Alto continue fall rally

Pac Crest trumpets Palo Alto Networks' (PANW +3.8%) firewall share gains, and declares the company a disruptive force in the network security space. It also asserts shares are trading at a 45%+ discount to those of companies growing at similar rates (Palo Alto posted 49% rev. growth in its Oct. quarter), and predicts the company's closely-watched legal battle with Juniper won't have serious consequences.

Shares are now up 27% from their early-November lows. They jumped two weeks ago after Palo Alto beat FQ1 estimates and reported strong deferred revenue growth.

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