Wells Fargo raised the firm’s price target on Palo Alto Networks (PANW) to $235 from $225 and keeps an Overweight rating on the shares. The firm notes the company reported solid results, with strong upside to net new ARR. Product and Subs revenue growth was higher than both Check Point (CHKP) and Fortinet (FTNT), and free cash flow margin remains intact.
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Read More on PANW:
- Palo Alto Networks: Strong Growth, Platformization Progress, and Positive Outlook Drive Buy Rating
- Cautious Hold Rating for Palo Alto Networks Amid Mixed Financial Signals and Valuation Concerns
- Palo Alto Networks: Strong Performance but Limited Valuation Upside
- Palo Alto Networks: Strong Performance and Strategic AI Positioning Justify Buy Rating
- Palo Alto Networks price target lowered to $210 from $213 at Barclays
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