Palo Alto Networks price target raised to $350 from $275 at Redburn Atlantic

Redburn Atlantic analyst Nina Marques raised the firm’s price target on Palo Alto Networks to $350 from $275 and keeps a Buy rating on the shares. Just as “Cloud 1.0” introduced new complexities, generative artificial intelligence “presents another transformative layer” to cybersecurity, the analyst tells investors in a research note. The firm says large platform players “stand to dominate the market once again.” While Palo Alto’s new “platformization” strategy may impact growth in the near term, it should “show massive returns in the long term,” says Redburn.