Palo Alto Networks initiated with a Buy at Benchmark

Benchmark initiated coverage of Palo Alto Networks (PANW) with a Buy rating and $200 price target Palo Alto Networks is an AI-driven cybersecurity leader delivering integrated platform solutions for superior protection, faster response, and lower costs, the analyst tells investors in a research note. As a core sector holding, it meets key SaaS investment criteria, including technology leadership, high AI defensibility, a $360B+ total addressable market, consistent beat-and-raise performance, and strong profitable growth targeting nearly Rule of 60 in FY2026E, the firm says.