BTIG raised the firm’s price target on Palo Alto Networks to $425 from $343 and keeps a Buy rating on the shares. The firm said the only negative product feedback this quarter revolved around Prisma Cloud, where competition is becoming more intense and driving a deceleration in growth. As a result, BTIG thinks the company should be able to post in-line billings for Q2 and maintain its FY24 guidance.
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