Palo Alto Networks price target raised to $425 from $350 at Wedbush

Wedbush raised the firm’s price target on Palo Alto Networks to $425 from $350 and keeps an Outperform rating on the shares. The price target increase reflects the firm’s solid field checks in the cyber security landscape for the Palo Alto machine and increasing cloud deal momentum heading into 2024, the analyst tells investors in a research note. The firm believes Palo Alto is seeing considerable strength with major expansions within its installed base as more enterprises move to the cloud with the Palo Alto platform.