Scotiabank analyst Patrick Colville raised the firm’s price target on Palo Alto Networks (PANW) to $225 from $200 and keeps an Outperform rating on the shares. After a healthy FY24 where U.S. software equities performed well, the firm feels bullish in 2025 about the software sector, the analyst tells investors. The firm’s forensic analysis points to software earnings surprises and estimate revisions. Scotiabank names Palo Alto as a “Defensive Play.”
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