Morgan Stanley analyst Hamza Fodderwala raised the firm’s price target on Palo Alto Networks to $255 from $240 and keeps an Overweight rating on the shares, saying that the company’s fiscal Q2 results "checked all the boxes." The firm, which sees "no reason why the stock shouldn’t re-rerate higher," continues to believe Palo Alto is "firmly on the path to becoming the first $100 billion market-cap company in cybersecurity," which it said implies a $300 share price in two years.
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