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FINWIRES

CrowdStrike to Benefit From Higher Cybersecurity Spend, KeyBanc Says

-- CrowdStrike (CRWD) is positioned to benefit from accelerating cybersecurity spending driven by disruption fears stemming from Anthropic's restricted-access advanced Claude Mythos model, KeyBanc said in a Monday research note.

KeyBanc sees CrowdStrike's core runtime protection abilities as the "enduring mission-critical function" for protection against attacks should a Mythos-like model becomes generally available, according to the note.

The company's Falcon platform is well-positioned with many sectors of spending that are likely to be prioritized in expectation of risks posed by Mythos, analysts wrote.

The company is a partner in Anthropic's Project Glasswing designed to test Mythos against cyber threats, which is expected to offer an incremental competitive advantage, KeyBanc stated.

The brokerage said it upgraded the stock to overweight from sector weight and set a price target of $525 per share.

Price: $452.77, Change: $+19.62, Percent Change: +4.53%

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