BofA raised the firm’s price target on Palo Alto Networks (PANW) to $430 from $400 and keeps a Neutral rating on the shares after the company reported a “strong quarter” with better-than-expected NGS ARR, product revenue growth and free cash flow generation. While the firm increased estimates and raised its price target it believes the current multiple already reflects the company’s strong results and sees limited upside for the stock, the analyst tells investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PANW:
- Palo Alto Networks upgraded to Buy at Rosenblatt after ‘strong’ Q1 performance
- Palo Alto Networks upgraded to Buy from Neutral at Rosenblatt
- Palo Alto Networks price target raised to $435 from $420 at Susquehanna
- Palo Alto Networks price target raised to $415 from $380 at JMP Securities
- Palo Alto Networks price target raised to $435 from $425 at Baird