Jim Cramer Sees Opportunity In Palo Alto Networks After Stock Is 'Overly Punished' In 2024
Portfolio Pulse from Navdeep Yadav
Jim Cramer believes Palo Alto Networks (PANW) has been 'overly punished' this year, with its stock down about 2% YTD, despite the S&P 500's 10% gain. He attributes this to a shift in business strategy but sees it as a short-term setback for long-term gains. Meanwhile, Constellation Brands (STZ) received a buy-equivalent rating from Piper Sandler with a $300 price target, indicating bullish sentiment. Cramer is optimistic about both companies' futures.
March 23, 2024 | 11:00 am
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POSITIVE IMPACT
Palo Alto Networks has been 'overly punished' according to Jim Cramer, with a 2% YTD drop despite a positive market. The shift in business strategy is seen as a temporary setback.
Cramer's positive outlook and the company's strategic shift, despite short-term revenue guidance cut, suggest potential for recovery and growth. The decrease in short interest also indicates growing investor confidence.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Constellation Brands received a buy-equivalent rating from Piper Sandler with a $300 price target. Jim Cramer is optimistic about the company's future, predicting the stock will go much higher.
The buy-equivalent rating from Piper Sandler and Cramer's optimism reflect strong confidence in Constellation Brands' future performance, potentially driving investor interest and stock price.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 80