As previously reported, BofA upgraded Palo Alto Networks (PANW) to Buy from Neutral with an unchanged price target of $215 following what the firm calls “impressive performance on all fronts” in fiscal Q4. Guidance was generally above expectations as well and at a high level, the company’s strategy “appears to be working well,” the analyst tells investors. Given the solid fundamentals, and with the stock down about 15% from the date of CyberArk (CYBR) M&A announcement and the firm’s price target suggesting 22% upside potential, BofA raised its rating.
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