Jefferies lowered the firm’s price target on Fortinet (FTNT) to $80 from $85 and keeps a Hold rating on the shares. Services revenue missed consensus “again” and Service revenue is now expected to rebound in the second half of 2026, which the firm calls “a disappointing extension” from prior commentary indicating Q4 stabilization. The firm sees a “downside floor” of $65 per share, the analyst noted.
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