Scotiabank analyst Patrick Colville raised the firm’s price target on Fortinet (FTNT) to $135 from $115 and keeps an Outperform rating on the shares. The company reported a “very solid” billing performance in Q4 and initial 2025 guidance, the analyst tells investors. The firm believes the company’s outperformance this quarter is early evidence Fortinet will be able to capitalize on the large firewall refresh cycle opportunity coming in the next year.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FTNT:
- Fortinet price target raised to $125 from $105 at Truist
- Fortinet price target raised to $115 from $110 at Cantor Fitzgerald
- Morning Movers: Amazon slips after soft revenue guidance, big AI spending plans
- Fortinet price target raised to $115 from $97 at RBC Capital
- Fortinet price target raised to $90 from $85 at Deutsche Bank