KeyBanc Upgrades Palo Alto Networks to Overweight with $380 Price Target
KeyBanc has upgraded Palo Alto Networks (PANW) from sector weight to overweight, citing an attractive entry point following a nearly 19% decline in share price over the past month. The bank set a price target of $380, suggesting approximately 18% potential upside from recent trading levels. Analyst Eric Heath noted that the company is well-positioned to benefit from enterprise trends toward cybersecurity consolidation and increasing security budgets through 2027. Specifically, Palo Alto's strong product offerings in securing AI environments and defending against AI-driven threats are expected to drive growth as it continues to out-execute its industry peers.