BUZZ-Citi lifts Palo Alto's PT, expects AI-driven security spending to support growth

Palo Alto Networks, Inc.

Palo Alto Networks, Inc.

PANW

0.00

** Citigroup raises cybersecurity firm Palo Alto Networks' PANW.O PT to $400 from $340, implying about 23% upside to stock's last close

** Brokerage says AI-driven security spending keeps co at "the front of the line" for cybersecurity budgets

** Says constructive early checks and CIO surveys support positive revisions to revenue and next-generation security annual recurring revenue

** Shares of co PANW.O up 0.54% at $327.67

** 44 of 57 brokerages rate stock "buy" or higher, 12 "hold" and 1 "sell"; their median PT is $330 - data compiled by LSEG

** Up to last close, stock up about 77% YTD


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