Truist lowered the firm’s price target on Fortinet (FTNT) to $95 from $125 and keeps a Buy rating on the shares. The company delivered “mixed” Q2 results and affirmed guidance after weaker-than-expected service revenue growth, the analyst tells investors in a research note. Billings also exceeded expectations, with strength driven by SecOps and SASE, the firm added.
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Read More on FTNT:
- Fortinet price target lowered to $85 from $95 at Stifel
- Fortinet’s Growth Prospects and Challenges: Analyst Maintains Hold Rating Amid Market Uncertainties
- Fortinet downgraded to Neutral from Buy at Rosenblatt
- Fortinet downgraded to Hold from Buy at TD Cowen
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