Palo Alto Networks price target raised to $305 from $246 at Northland

Northland analyst Nehal Chokshi raised the firm’s price target on Palo Alto Networks (PANW) to $305 from $246 and keeps an Outperform rating on the shares. Crowdstrike (CRWD) and Zscaler (ZS) are contending they have uniquely valuable data sets that position their products to be a bigger beneficiary from the utilization of generative AI for cybersecurity, but the firm views Palo Alto as “well positioned” and its higher target for the shares reflects increased terminal period market share of 26% that it expects the company to capture from Crowdstrike and Zscaler.