Fortinet price target lowered to $80 from $110 at Susquehanna

Susquehanna lowered the firm’s price target on Fortinet (FTNT) to $80 from $110 and keeps a Neutral rating on the shares. The firm said they reported a generally fine 2Q and raised its guidance across most metrics. Susquehanna likes the company, its market opportunity, and large firewall refresh cycle, the risk/reward appears balanced at current levels.