Palo Alto Networks price target raised to $216 from $200 at RBC Capital

RBC Capital analyst Matthew Hedberg raised the firm’s price target on Palo Alto Networks to $216 from $200 and keeps an Outperform rating on the shares after its Q2 earnings beat and guidance raise. While the selling environment was "challenging", the company’s performance is demonstrating the ability to consolidate security spend and drive higher customer value, the analyst tells investors in a research note. The firm added that Palo Alto Networks remains one of its "top ideas" given the company’s "durable/disruptive" growth and "attractive" margin expansion.