Palo Alto Networks pops after Loop Capital upgrade
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Palo Alto Networks (NASDAQ:PANW) shares are trading +6.3% after Loop Capital upgraded the stock from Hold to Buy with a price target of $200.
Loop analysts see "signs of accelerating momentum driven by an increase in large deal activity." They also believe supply-chain issues that were plaguing the industry are starting to ease and Palo Alto's enterprise business is gaining momentum driven by more large deal activity.

Earlier this week Morgan Stanley also had positive comments, calling Palo Alto Networks (PANW) its top pick in cybersecurity and suggesting that larger firms may see less of an impact from the global economic slowdown than others.
The cybersecurity software maker will report Q3 results on November 17, after market close. The SA Quant rating on the stock is Hold.