Palo Alto Networks price target raised to $450 from $400 at Jefferies

Jefferies raised the firm’s price target on Palo Alto Networks (PANW) to $450 from $400 and maintains a Buy rating on the stock. The company is expected to report healthy Q1 results with modest upside to 19%-20% y/y RPO guidance, although the moderating survey results and weaker overall network security prints may mitigate the upside, the analyst told investors in a research note. Jefferies adds that it does not expect significant upside to RPO in FY25, but continues to have confidence in Palo Alto’s long-term consolidation trajectory delivering strong free cash flow results.

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