Fortinet price target raised to $95 from $88 at Cantor Fitzgerald

Cantor Fitzgerald raised the firm’s price target on Fortinet (FTNT) to $95 from $88 and keeps a Neutral rating on the shares. Fortinet offered long-term financial target updates, insights into the upcoming refresh cycle, and strong ongoing growth initiatives at its Analyst Day in New York, the analyst tells investors in a research note. Cantor says it will continue to monitor the impact of increased sales spending on revenue growth and margins.