Wedbush raises Palo Alto Networks PT
BUZZ-Wedbush raises Palo Alto Networks PT ** Brokerage Wedbush raises PT of cybersecurity company Palo Alto Networks PANW.O to $400 from $340
** New PT represents a ~18% upside to the stock's last close
** Brokerage cites PANW's ability to tap into new, high growth markets leveraging its strong balance sheet and steady M&A integrations
** Wedbush believes PANW's position as a security operations center rather than a platform will better position the firm to win more deals moving forward, as it combines human expertise with custom processes instead of relying on automated tooling alone
** Co has multiple products that are reaching new all-time highs for growth in its cloud business, including Prisma AIRS, Palo’s AI Security platform covering AI runtime security - brokerage
** 44 of 56 brokerages rate the stock "buy" or higher, 11 "hold" and one "sell"; their median PT is $410 - data compiled by LSEG
** Up to last close, stock has risen ~84% this year
(Reporting by Prathik Jayaprakash in Bengaluru)
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