[DEVELOPING] Palo Alto joins the S&P 100 as AI-security ARR growth and target hikes lift cyber names
S&P Dow Jones added Dell, Palo Alto Networks, Arista and Sandisk to the S&P 100 in the Sep 21 rebalance, a mechanical bid for the additions. PANW had already jumped ~13% on Sep 14 on target raises (RBC $475, Morgan Stanley $410) after Q4 FY26 showed 63% next-gen-security ARR growth and an above-consensus FY27 guide. Bernstein's Sep 17 downgrade to Hold and an Anthropic/OpenAI security tie-up are the counterweights.