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Raymond James upgrades Palo Alto Networks, says cybersecurity stock can rally nearly 20%

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Nikesh Arora, Chairman and CEO of Palo Alto Networks appears on CNBC's Squawk Box at the 2020 World Economic Forum in Davos, Switzerland on Jan. 22nd. 2020.
Adam Galica | CNBC

Palo Alto Networks is showing signs of improvement that could help erase a recent stretch of underperformance, according to Raymond James.

Analyst Adam Tindle upgraded the cybersecurity stock to outperform from market perform, saying in a note to clients on Tuesday that the company appears to be striking bigger deals with customers, which could lead to higher margins.

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