Yahoo Finance

Jefferies analyst Joseph Gallo reiterated a Buy rating and $215 price target on Palo Alto Networks (PANW) after the company announced a definitive agreement to acquire Protect AI. The firm expects the acquisition to strengthen the company’s position as the cyber platform of choice, solidifying its ability to secure the new attack surface created by AI, via both acquisition and launch of the new Prima AIRS solution. Jefferies views AI as a must-win category for Palo Alto, similar to Cloud, where only three pure plays ultimately won.

Protect Your Portfolio Against Market Uncertainty

• Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter.

• Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox.

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

See Insiders’ Hot Stocks on TipRanks >>

Read More on PANW:

Disclaimer & DisclosureReport an Issue

• AI Daily: Musk’s XAI in talks to raise $20B, Huawei develops new AI chip

• Palo Alto Networks to acquire Protect AI, terms not disclosed

• What Wall Street is saying about Alphabet ahead of earnings

• Palo Alto Networks price target lowered to $205 from $240 at KeyBanc

• Palo Alto Networks price target lowered to $205 from $230 at Morgan Stanley