JPMorgan lowered the firm’s price target on Palo Alto Networks (PANW) to $221 from $225 and keeps an Overweight rating on the shares. The company reported in-line growth with better than expected operating profitability, but this was offset by softer net new annual recurring revenue and remaining performance obligation, the analyst tells investors in a research note. The firm says it continues to see signs that agentic artificial intelligence adoption is moving from proof of concept to practice and is encouraged that Palo Alto is taking a leadership position among platform vendors to invest in security for AI ahead of broader AI adoption.
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