JPMorgan increased its price target for Palo Alto Networks (PANW) to $384 from $326. The bank maintained an "Overweight" rating on the stock ahead of the company's fourth-quarter earnings report.
JPMorgan cites strong platform momentum and robust free cash flow generation.
Analyst Brian Essex notes the urgent need for improved cybersecurity positions Palo Alto Networks favorably.
JPMorgan's action aligns with broader positive analyst sentiment. Benchmark, BofA Securities, and Cantor Fitzgerald also recently raised their price targets for the cybersecurity company.