BMO Capital analysts restated their positive outlook on Palo Alto Networks (NASDAQ:PANW), maintaining an Outperform rating along with a target price of $235.00. In anticipation of the upcoming Q4 earnings call on Friday, the analysts shared additional insights.
Despite expecting the company’s guidance for fiscal 2024 to fall below consensus estimates, the analysts consider this a moment of clarification rather than a factor that would alter the overall assessment. Notably, the analysts had recently adjusted their projections but aren’t revising them further now. The analysts maintained confidence in a favorable risk-to-reward balance for the company’s shares.