Palo Alto soars on mistrial ruling; Citi considers settlement possible

|About: Palo Alto Networks (PANW)|By:, SA News Editor

Palo Alto Networks (PANW +10.9%) is within striking distance of its post-IPO high of $79.99 after a mistrial was declared for rival Juniper's (JNPR -0.6%) infringement suit against the company. The judge presiding over the suit has instructed lawyers from both parties to meet to determine their next moves.

FBR calls the decision a big "sigh of relief" for Palo Alto investors. Ahead of the mistrial announcement, Citi was already arguing the odds of a settlement had grown, given a judge's ruling that no second trial covering indirect infringement would occur.

Citi even thinks a cross-selling deal between Palo and Juniper is possible, given Juniper's recent struggles in the branch office firewall market.

Palo Alto's official statement