Canaccord notes that Palo Alto Networks (PANW) is reported to be in the later stages of talks to acquire CyberArk (CYBR), adding that while the former is “known to be acquisitive, a $20B+ price tag is certainly atypical for the firm.” However, the firm could see significant synergies from a product perspective if such a deal were to close and it views a potential Palo Alto tie-up with CyberArk as “likelier than the potential” deal for SentinelOne (S) reported about last week. Canaccord has a Buy rating and $440 price target on shares, which are up about 12% to $427.46 following the report from Lauren Thomas of Wall Street Journal earlier this afternoon.
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