Fortinet price target raised to $85 from $80 at Wells Fargo

Wells Fargo analyst Andrew Nowinski raised the firm’s price target on Fortinet (FTNT) to $85 from $80 but keeps an Equal Weight rating on the shares. The company’s new 3-5 year targets offered at its Analyst Day event were slightly better than the firm was expecting, the analyst tells investors in a research note. The firm adds however that the management did not provide guidance for FY25, and as such, the shape of the growth curve is still uncertain in terms of whether it will be higher in FY25 and slowing over the years.