Truist analyst Joel Fishbein raised the firm’s price target on Palo Alto Networks (PANW) to $220 from $205 and keeps a Buy rating on the shares. The company reported strong Q4 results, driven by SASE, XSIAM, and virtual firewalls, as well as large platformization deals, the analyst tells investors in a research note. Truist adds it is incrementally more confident the business that is still on track for its long-term goal of $15Bn in ARR by FY30, driven by tailwinds in SASE, XSIAM, AI, and Identity.
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