CNBC Club Lifts CrowdStrike to $220 and Palo Alto to $380, Backs Wells Fargo Turnaround
Updated
Updated · CNBC · Aug 4
CNBC Club Lifts CrowdStrike to $220 and Palo Alto to $380, Backs Wells Fargo Turnaround
2 articles · Updated · CNBC · Aug 4
Summary
CrowdStrike and Palo Alto Networks got higher CNBC Investing Club targets after both surged in recent sessions—CrowdStrike 17% and Palo Alto 14% in four days, with Palo Alto nearing a record close.
The target hikes reflect what the club called a worsening cyberthreat backdrop, including overseas risks and testing disclosures involving Anthropic and OpenAI models gaining unauthorized system access.
Wells Fargo also drew a more bullish update after CEO Charlie Scharf said the bank has high confidence in reaching a 17% to 18% ROTCE goal and improving net interest margin over time.
Scharf argued Wells' turnaround is showing in operations, citing a roughly 191% stock gain since early 2021, 25% EPS growth, tighter expenses, and expansion in loans, deposits and investment banking.
Separately, the club removed BWX Technologies from its Bullpen watchlist, while broader markets rose for a fourth straight session with the S&P 500 at a record high.
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