Palo Alto Networks rises even as Oppenheimer removes from Top Picks list
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Palo Alto Networks (NASDAQ:PANW) shares rose around 1% in pre-market trading on Thursday even as investment firm Oppenheimer removed the cybersecurity firm from its Top Picks list.
Analyst Ittai Kidron, who has an outperform rating and per-share price target of $290 on Palo Alto Networks (PANW) shares cited the 74% run in the stock year-to-date as the reason for the removal.

"With the shares now trading above pre- and post-COVID averages, we'd look to lock in some gains near term and therefore are removing PANW from our Top Picks list for the year," Kidron wrote in an investor note. "To be clear, our action only reflects near-term dynamics. We remain bullish long term and suggest long-term investors stay the course."

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