Palo Alto Networks price target raised to $432 from $395 at Citi

Citi analyst Fatima Boolani raised the firm’s price target on Palo Alto Networks (PANW) to $432 from $395 and keeps a Buy rating on the shares. The company reported “solid” remaining performance obligation and annual recurring revenue ahead of expectations, the analyst tells investors in a research note. The firm says Palo Alto “check off necessary boxes for a respectable print.” Citi believes a “more-constructive tone” on product, “robust” Cortex prospects and “meaty” renewal cycles in fiscal 2026 and 2027 “can comfortably underwrite durable positive estimate revisions.”