Truist raised the firm’s price target on Fortinet (FTNT) to $105 from $85 and keeps a Buy rating on the shares. The firm is citing the company’s Analyst Day presentation offering additional detail regarding its total addressable market evolution as well as mid-term targets that were roughly in-line with consensus expectations, the analyst tells investors in a research note. Even though there were no new product announcements, the firm comes away from the event “incrementally more positive” and view Fortinet as one of the best positioned security companies to benefit from vendor consolidation based on its product breadth, Truist added.
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Read More on FTNT:
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