
Shares of Palo Alto Networks PANW.O up 1.9% at $171.2 premarket
Piper Sandler upgrades cybersecurity firm to "overweight" from "neutral"; hikes PT to $225 from $200, implying a 34% upside
Cites early success of co's platformization strategy boosting bookings, future revenue growth
On the CyberArk acquisition, "PANW is acquiring one of the highest quality assets in security to further accelerate the consolidation opportunity," Piper said
38 of 54 brokerages rate stock "buy" or higher, 14 "hold" and 2 "sell" or lower; median PT is $215 - data compiled by LSEG
As of last close, PANW down 7.6% this year