Rosenblatt upgraded Palo Alto Networks (PANW) to Buy from Neutral with a price target of $430, up from $390, driven by the “strong” Q1 performance and the evident success of its platform strategy, which is driving larger deals and “impressive” NGS ARR growth. The strategy, combined with the strong momentum of SASE and rapid adoption of Cortex/XSIAM, positions Palo Alto Networks for continued market leadership, the analyst tells investors.
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