Barclays keeps an Overweight rating on Palo Alto Networks (PANW) with a $213 price target ahead of the fiscal Q2 report on February 13. The firm likes the share setup as it sees upside to bookings, annual recurring revenue, and revenue based on its “good” channel checks and the company’s execution on platformization. Barclays thinks Palo Alto could reiterate its fiscal 2025 remaining performance obligation and free cash flow margin guide, and flow-through the Q2 beat to its annual recurring revenue outlook.
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