As previously reported, BTIG upgraded Palo Alto Networks (PANW) to Buy from Neutral with a $248 price target after speaking with seven contacts who were “surprisingly positive” and coming away from the checks with greater confidence in the company’s ability to achieve growth targets of 14% total revenue growth and 26% growth in NGS ARR in FY26. The firm, which notes that its FY26 and FY27 estimates are unchanged, thinks Palo Alto can maintain 12%-plus growth over the next few years.
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