Palo Alto Networks up after brokerages raise PT
** Shares of cybersecurity company Palo Alto Networks PANW.O up 2.3% at $340.93
** Brokerage Scotiabank raises PT to $385 from $337 while Citi Research also raises PT to $385 from $345
** PANW is making the right moves in positioning itself as one of only a few "truly credible" cybersecurity platforms - Scotiabank
** PANW is benefiting from a sticky core business, vendor consolidation, and adoption of cloud security - Scotiabank
** Citi's recent analysis shows PANW is being chosen when customers are renewing contracts or switching from rivals
** Citi says the recent CrowdStrike CRWD.O IT outage exposed risks related to single vendors that could partially slowdown aggressive vendor consolidation, significant to PANW's growth
** Average rating of 54 analysts covering the stock is "buy", their median PT is $350 - LSEG data
** Company is scheduled to report Q4 financial results on Aug. 19
** Up to last close, stock up ~13% YTD
Reporting by Jaspreet Singh in Bengaluru
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