PANW Price Target Raised to $253 on Firewall Demand Trends
Published on Β· Source: finance.yahoo.com
AI Summary
Summarized by AI from the source belowMorgan Stanley raised its price target for Palo Alto Networks (PANW) to $253 from $223 on May 20, suggesting a 2% upside from the May 18 close of $247.55. This upgrade comes as PANW is expected to report fiscal third-quarter results on June 2, with analysts anticipating a significant performance, particularly in remaining performance obligations growing closer to 33% year over year. The motivations behind the price target increase include strong demand across firewall refreshes and AI security solutions. The upgrade reflects confidence in Palo Alto's growth relative to strong performances from competitors like Fortinet and Cisco.
Informational only, not financial advice. Content is AI-generated and may contain errors. How this works.
About Palo Alto Networks Inc. (PANW)
Palo Alto Networks is a leading cybersecurity company.
The Information Technology sector covers hardware, software and semiconductor companies driving the digital economy.
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