Palo Alto Networks’ Price Target Raised at Morgan Stanley, Shares Gain 5%
Palo Alto Networks’ Price Target Raised at Morgan Stanley, Shares Gain 5%

Palo Alto Networks’ Price Target Raised at Morgan Stanley, Shares Gain 5%

Jan. 10, 2024, 7:06 p.m., readers: 26

Morgan Stanley analysts raised their price target for Palo Alto Networks (NASDAQ:PANW) from $304.00 to $375.00, continuing to assign an Overweight rating. The stock is highlighted as the preferred choice in its sector, with expectations for 2024 to be an outstanding year for cybersecurity. Shares rose more than 5% higher today. The analysis suggests that despite a 70% increase in the median security stock last year, the sector is poised for further growth in 2024. This is due to anticipated improvements in demand throughout the year, which are likely to lead to more significant positive revisions in estimates. Recent research and survey data support this outlook, with a projection of accelerated security budgets in 2024 compared to 2023.


About NASDAQ: PANW

P alo Alto Networks, Inc. provides cybersecurity solutions worldwide. The company offers firewall appliances and software; Panorama, a security management solution for the control of firewall appliances and software deployed on an end-customer's network and instances in public or private cloud environments, as a virtual or a physical appliance;

Price: 279.26
Market cap: 88.1 billion USD
Eps: 1.80
P/e ratio: 155.15
Terminal Research: PANW
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Palo Alto Networks Downgraded at Rosenblatt
Feb. 21, 2024, 10:06 a.m.

Rosenblatt downgraded Palo Alto Networks (NASDAQ:PANW) from Buy to Neutral, adjusting the price target …