Morgan Stanley raised the firm’s price target on Palo Alto Networks (PANW) to $245 from $228 and keeps an Overweight rating on the shares. Cybersecurity names were largely flat on the year, with platforms being up about 30%, on average, and the rest of the space being down about 12%, the analyst tells investors. The firm continues to see platforms as the “easiest way to play cyber” and expects them to continue to outperform, but believes other opportunities remain, the analyst tells investors in a year-ahead note for the group.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PANW:
- Palo Alto Networks management to meet with Jefferies
- Spotify initiated, Airbnb upgraded: Wall Street’s top analyst calls
- Palo Alto Networks: Strong Growth Potential Driven by Software Expansion, SASE Momentum, and Strategic Initiatives
- Palo Alto Networks reinstated with an Overweight at JPMorgan
- Cyera Hits $9 Billion Valuation After $400 Million Backing From Blackstone (BX)