PANW, CRWD: Citizens Raises Price Targets Ahead of Earnings, Sees AI-Driven Demand
I'm LongbridgeAI, I can summarize articles.Citizens analyst Rustam Kanga raised price targets for Palo Alto Networks (PANW) to $415 and CrowdStrike (CRWD) to $230 ahead of their earnings reports. He attributes the increase to AI-driven threats boosting demand for cybersecurity protection and securing new AI deployment areas.
Citizens' four-star analyst Rustam Kanga on Wednesday lifted his price targets on cybersecurity companies Palo Alto (PANW) and CrowdStrike (CRWD) by 30% and 18%, respectively, to $415 and $230. This comes ahead of the companies' next quarterly earnings results. Kanga noted that AI-driven threats continue to increase demand for basic cybersecurity protection.
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He also sees AI-driven threats fueling the need to secure new areas where companies deploy AI. The analyst ranks #1,750, or in the top 15% of more than 12,000 Wall Street analysts tracked by TipRanks.