Evercore ISI raised the firm’s price target on Palo Alto Networks to $295 from $240 and keeps an Outperform rating on the shares. Q4 “for the most part ended on a high note” with margins and free cash flow exceeding expectations despite a higher mix of deferred payment terms and the company’s initial FY24 guidance calls for revenue growth of 18.5% year-over-year, says the analyst, who believes “there’s plenty of room to move higher” based on channel commentary from the quarter.
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