Fortinet price target raised to $90 from $85 at Rosenblatt

Rosenblatt raised the firm’s price target on Fortinet (FTNT) to $90 from $85 and keeps a Buy rating on the shares. The firm says the company reported “exceptional” Q3 results, exceeding expectations on both the top and bottom line. The results demonstrate Fortinet’s ability to capitalize on favorable market trends, including strong demand for its security and networking solutions and an upcoming firewall refresh cycle, the analyst tells investors in a research note.