BofA Lifts PT on Palo Alto Networks (PANW) to $240 From $215

Palo Alto Networks, Inc. (NASDAQ:PANW) is one of the best long term low volatility stocks to buy right now. BofA lifted price target on Palo Alto Networks, Inc. (NASDAQ:PANW) to $240 from $215 on October 20, keeping a Buy rating on the shares.

The firm told investors that the cybersecurity and networking sectors are continually benefiting from strong momentum, with fundamentals across networking exhibiting healthy patterns.

It added that factors such as continued technology evolution and growing enterprise security budgets are supporting cybersecurity demand. While the firm acknowledged that valuation is a “long-term concern,” BofA anticipates sentiment to continue supporting momentum in the intermediate term, which is why it updated its price targets “accordingly”.

Palo Alto Networks, Inc. (NASDAQ:PANW) provides network security solutions to service providers, enterprises, and government entities. Its operations are divided into the following geographical segments: the United States, Israel, and Other Countries.

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Disclosure: None. This article is originally published at Insider Monkey.