Palo Alto Networks assumed with an Overweight at Cantor Fitzgerald
The Fly

Palo Alto Networks assumed with an Overweight at Cantor Fitzgerald

Cantor Fitzgerald assumed coverage of Palo Alto Networks (PANW) with an Overweight rating and price target of $415, up from $400. Several online sources reported yesterday that Palo Alto has been awarded a five-year $996M deal with the Department of Defense through U.S. federal distributor Carahsoft, the analyst tells investors in a research note. The firm has increasing conviction in the company’s platform adoption, saying recent partner discussions highlight strong interest in and traction around Cortex XSIAM and Prisma Access Brows.

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