Cantor Fitzgerald raised the firm’s price target on Fortinet (FTNT) to $110 from $100 and keeps a Neutral rating on the shares. Cantor’s checks on Fortinet suggest improved trends quarter over quarter, with an uptick in close rates and channel incentives driving refresh strength, the analyst tells investors in a research note. The firm expects continued cautious commentary overall, but less-conservative guidance driven by another product beat.
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