Palo Alto Networks price target raised to $235 from $220 at Mizuho

Mizuho analyst Gregg Moskowitz raised the firm’s price target on Palo Alto Networks to $235 from $220 and keeps a Buy rating on the shares. The company reported "strong" fiscal Q2 results that included 26% year-over-year billings growth versus the Street’s 23% forecast, the analyst tells investors in a research note. The firm remains bullish on Palo Alto’s improving mix shift toward higher-growth recurring revenue. It believes the company "clearly possesses the strongest array of cloud assets among traditional network security vendors."