Palo Alto Networks Inc PANW shares are trading higher by $5.19 (3.8 percent) at $137.83 in Friday's session. The catalyst for the rally is an upgrade from Citigroup, which raised its rating from Neutral to Buy with a price target of $160.
After a higher open, Palo Alto had a brief retreat but found support ahead of the top of Thursday's range ($133.95), reaching $134.74 before continuing its move higher. It went on to make several new highs for the session, with the current one standing at $137.99 as of 10:30 a.m. EST.
If the rally continues, there may additional resistance at the trio of highs from late June in the $138.64-$138.94 range.
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