Fortinet price target raised to $90 from $70 at Susquehanna

Susquehanna analyst Shyam Patil raised the firm’s price target on Fortinet (FTNT) to $90 from $70 and keeps a Neutral rating on the shares. The firm said they reported 3Q with top- and bottom-line metrics ahead of expectations, with particular strength on the bottom line. The company called out solid quarter-to-date trends, though 4Q billings were guided a bit softer due to some conservatism around some larger deals in the pipeline.