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Palo Alto Networks could rise 22% on the back of increased government spending to combat cyber threats, Wedbush says

October 11, 2021

High-profile cyber attacks against Solarwinds and Colonial Pipeline have ignited increased spending in cybersecurity that is set to benefit Palo Alto Networks stock, according to a Sunday note from Wedbush.

Wedbush raised its price target on Palo Alto Networks to $600, representing potential upside of 22% from Friday’s close. The investment firm cited internal checks on cybersecurity spending that are tracking strong for the third quarter.

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