As previously reported, Piper Sandler upgraded Fortinet (FTNT) to Overweight from Neutral with a price target of $120, up from $100. The firm’s survey results across channel partners and CIOs both point to the firewall cycle ramping in 2025, with vendor commentary also pointing to early signs of refresh taking place. Piper thinks this will drive product acceleration for the space, with Fortinet its favorite way to play this trend.
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Read More on FTNT:
- China’s hackers worked deeper inside U.S. telecom networks, WSJ reports
- Fortinet upgraded to Overweight from Neutral at Piper Sandler
- Fortinet price target raised to $114 from $100 at Goldman Sachs
- Treasury Department hacked by state-sponsored actor in China, NY Times reports
- Fortinet price target raised to $105 from $95 at Jefferies