ATLAS News · Markets

KeyBanc Upgrades Palo Alto Networks to Overweight, Sets $380 Target

Published November 13, 2026 · 6 sources

KeyBanc upgraded Palo Alto Networks (PANW) to Overweight with a $380 price target, citing the security budget outlook, ahead of Q1 results.

What happened

KeyBanc has raised its rating on Palo Alto Networks (PANW) to Overweight, according to MarketScreener, Moomoo and Investing.com. The firm set a price target of $380.

Investing.com and Traders Union link the move to the outlook for security budgets, with stronger security spending supporting the company's prospects. Seeking Alpha notes the upgrade comes ahead of the company's Q1 results.

Moomoo describes the new stance as a Buy rating, while MarketScreener uses the Overweight label. Quantisnow also reports that KeyBanc Capital Markets issued the upgrade along with a new price target.

Context

Analyst rating changes from brokerages such as KeyBanc are one of several inputs investors consider when assessing a company, and they reflect the views of the firm issuing them.

Why it matters

The upgrade highlights how analysts are viewing cybersecurity spending trends and may draw attention to Palo Alto Networks as it approaches its next earnings report.

Stocks in this story

Price changes are shown for the trading day of the story and are a coincidence in time, not proof that the news caused them. Figures are ATLAS data from our database.

Palo Alto NetworksPANW

−3.53%

Technology · NASDAQ

Live price

$319.93▼ -3.53%

live price · USD

Close on November 12: $322.66−3.53% vs. previous close ($334.47)
Fair value (ATLAS): $148.61Fair range: $114.13 to $197.51The price ($319.93) is 115.3% above that figure.
Chance of a rise in 1 month: 48%Probability of closing higher than today within 21 sessions.Normal range: half of the scenarios end between $287.18 and $350.65; 9 in 10, between $240.59 and $418.54.

See the full ATLAS analysis of Palo Alto Networks →

Closing prices, fair value and probabilities: ATLAS own data. How we calculate fair value.

Market indices

Latest close of the ETFs that track the main US indices (SPY, QQQ, DIA), from ATLAS data.

S&P 500 (SPY): 757.12 (−0.35%) · November 12

Nasdaq-100 (QQQ): 688.17 (−0.32%) · November 12

Dow Jones (DIA): 522.47 (−0.38%) · November 12

Sources

ATLAS writes its own summaries from the reporting of these outlets. Each link opens the original publisher.

KeyBanc upgrades Palo Alto Networks stock rating on security budget outlook By Investing.com · Investing.com India · November 13, 2026
KeyBanc Upgrades Palo Alto Networks to Overweight, Price Target is $380 · www.marketscreener.com · November 13, 2026
KeyBanc Upgrades Palo Alto Networks(PANW.US) to Buy Rating, Announces Target Price $380 · Moomoo · November 13, 2026
Palo Alto Networks gets KeyBanc upgrade as stronger security spending supports outlook · Traders Union · November 13, 2026
Palo Alto Networks upgraded at KeyBanc ahead of Q1 results (PANW:NASDAQ) · Seeking Alpha · November 13, 2026
Palo Alto Networks upgraded by KeyBanc Capital Markets with a new price target · Quantisnow · November 13, 2026

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Information, not advice. This content is informational and is not an investment recommendation or an offer to buy or sell securities. ATLAS estimates come from statistical models using public data, can be wrong, and past performance does not guarantee future results. Disclaimer