Palo Alto Networks (PANW) PT Raised to $390 at BMO Capital

BMO Capital analyst Keith Bachman raised the price target on Palo Alto Networks (NASDAQ: PANW) to $390.00 (from $334.00) while maintaining a Outperform rating.

The analyst comments "We are not surprised that PANW is moving away from offering billings guidance, and we view the FCF guide as a source of relief. Further, reported metrics for the July quarter were solid across the board, highlighted by RPO growth of 20% y/y, billings above the high end of the guided range, and operating margins of about 100 basis points above our/Street estimates. With this note, we are introducing our FY26 estimates, which help push our target price higher to $390. We retain our Outperform rating."

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