Palo Alto Networks gains on KeyBanc upgrade

** Shares of cybersecurity company Palo Alto Networks PANW.O rise 2.2% to $329.75 premarket

** KeyBanc upgrades PANW to "overweight" from "sector weight," citing increases in security budgets in 2027

** Brokerage sees PANW as major beneficiary of consolidation trend in cybersecurity, with AI security and accelerated AI threats as drivers
** KeyBanc also points to the recent slide in the shares as an attractive entry point; stock has lost nearly 19% in value this quarter

** Brokerage establishes PT of $380, which implies a near 18% premium to co's last close of $322.66

** Up to last close, stock has risen over 75% YTD, sharply outperforming S&P 500 Software & Services Index .SPLRCIS, which is roughly flat for the year