Fortinet price target raised to $110 from $85 at Scotiabank

Scotiabank analyst Patrick Colville raised the firm’s price target on Fortinet (FTNT) to $110 from $85 and keeps a Sector Perform rating on the shares. The company posted a monster billings growth performance in Q1 and meaningfully raised its 2026 outlook, the analyst tells investors in a research note. The firm added that while it “roundly” applauds Fortinet on its deeply impressive performances, it remains at Sector Perform as the firm awaits evidence that this inflection in demand is sustainable.