Palo Alto Networks price target raised to $212 from $208 at JMP Securities

JMP Securities raised the firm’s price target on Palo Alto Networks (PANW) to $212 from $208 and keeps an Outperform rating on the shares. Palo Alto’s Q2 results met or exceeded expectations across all metrics, the analyst tells investors in a research note. Management cited several factors supporting both the improvement of operating margins as well as cash flows beyond the guidance provided for FY25, including internal AI-based efficiencies, which will reduce contract labor to support IT processes by 50% by the end of FY25 along with other efficiency gains, the firm notes.