Palo Alto Networks price target raised to $425 from $390 at BMO Capital

BMO Capital raised the firm’s price target on Palo Alto Networks (PANW) to $425 from $390 and keeps an Outperform rating on the shares after its Q1 earnings beat. The company continues to execute well as more customers consolidate on its platform, and while its billings results were weak, the underlying demand trends remain stable, the analyst tells investors in a research note. QRadar’s installed base also represents a compelling conversion opportunity for Palo Alto Networks over time, BMO adds.