Citi ups Fortinet target, opens ‘downside 90-day short-term view’

Citi raised the firm’s price target on Fortinet (FTNT) to $85 from $83 and keeps a Neutral rating on the shares. Citi also added a “downside 90-day short-term view on Fortinet. Citi is cautious on the company’s product opportunity following its survey of chief information security officers. The survey shows a growing number of companies anticipating lower hardware refreshes in 2026 versus 2025, the analyst tells investors in a research note.