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Palo Alto Networks (PANW) stock drops 4.7% despite Scotiabank raising price target to $430
Cybersecurity firm Palo Alto Networks (PANW) shares fell 4.7% as of 10 a.m. ET, even after Scotiabank analyst Patrick Colville raised his price target for the stock to $430. The decline comes ahead of the company's Q4 earnings report this evening, with analysts noting PANW shares are trading at double their five-year average EV/EBITDA valuation, suggesting potential overvaluation.
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