TLDRPalo Alto Networks (PANW) stock traded near $333 in Friday premarket, up about 3%.KeyBanc upgraded it to Overweight with a $380 target after a roughly 20% monthly pullback.Deutsche Bank and Stifel kept Buy ratings with $430 and $415 targets.The stock sits below its 20-day and 50-day averages, with support near $312.Fiscal first-quarter earnings arrive Wednesday, Nov. 18.Palo Alto Networks (PANW) stock was trading near $333 in Friday premarket, up about 3%. The move follows a sharp drop in the prior session.Palo Alto Networks, Inc., PANWGains ranged from 2.9% to 4.3% depending on when the stock was quoted. At one point it sat at $332.KeyBanc upgraded the stock to Overweight from Sector Weight and set a $380 price target. Analyst Eric Heath called the roughly 20% pullback over the past month a buying chance.Heath expects security budgets to speed up through 2027. He named the company a leading winner of the push toward consolidation.He also said it is out-executing many of its cyber peers. His note pointed to strong products for securing AI and defending against AI-driven threats.Wall Street Lines Up Before EarningsDeutsche Bank kept its Buy rating with a $430 target. It expects revenue to edge past the $3.305 billion guidance midpoint.Stifel held its Buy rating and $415 target after talking to five top-tier channel partners. Three of them reported results above expectations, including the largest U.S. partner.Those checks supported the platformization strategy and tools like Prisma AIRS. Jefferies trimmed its target to $400 on Thursday but kept its Buy rating.Citigroup raised its target to $440 in October. Wells Fargo went higher, to $525.The average analyst target is $412.50, with a consensus Buy rating. The stock has gained 57.57% over the past 12 months.Thursday’s drop came with a broader selloff after hotter-than-expected inflation data raised fears of more Fed rate hikes. On Friday, S&P 500 futures rose 0.30% and Nasdaq futures gained 0.27%.Where the Chart StandsThe stock trades above its 200-day moving average of $276.50. It remains below its 20-day average of $351.89 and its 50-day average of $367.70.The MACD indicator sits below its signal line, which points to fading buying pressure. Traders are watching resistance near $368.50 and support around $312.Benzinga’s Edge scores show momentum at 90.66, with value at 1.45 and growth at 29.57. CNBC’s Jim Cramer recently said he prefers Palo Alto and CrowdStrike over Netskope.The company reports fiscal first-quarter results on Nov. 18. Analysts expect earnings of 97 cents per share on revenue of $3.31 billion, versus 93 cents and $2.47 billion a year earlier.The post Palo Alto Networks (PANW) Stock Gains as KeyBanc Calls 20% Dip a Buying Opportunity appeared first on Blockonomi.