Palo Alto Networks price target raised to $190 from $180 at Loop Capital

Loop Capital raised the firm’s price target on Palo Alto Networks (PANW) to $190 from $180 and keeps a Hold rating on the shares. The company reported slightly higher Q2 revenue, next-gen security annual recurring revenue, and RPO growth vs. consensus estimates and its guidance, but while Q2 results imply that the financial impact of its platformization go-to-market continues to stabilize at current levels and visibility in its model during the current transition is improving, the overall business growth during the first half of the year has been “somewhat underwhelming”, the analyst tells investors in a research note.