Fortinet price target raised to $95 from $88 at Baird

Baird raised the firm’s price target on Fortinet (FTNT) to $95 from $88 and keeps an Outperform rating on the shares. The firm said management’s focus on a major FY25 refresh-cycle has fueled optimism, and is crucial to its near-term/medium term outlook amid cautious Q4 billings guidance.