Scotiabank upgrades Fortinet shares target, outperform on strategy strength By Investing.com
On Wednesday, Scotiabank (TSX:) analyst Patrick Colville increased the stock price target for Fortinet (NASDAQ:), a global leader in broad, integrated, and automated cybersecurity solutions, setting it at $110.00, up from the previous $85.00. The firm kept its rating at Sector Outperform following Fortinet’s Investor Day.
The company’s Investor Day was highlighted as a pivotal moment for Fortinet, confirming the strength of its business strategy. According to the analyst, the mid-term targets presented were consistent with the expectations of the investment community.
The event left Scotiabank more optimistic about Fortinet’s upcoming hardware refresh cycle, which supports the view that the company’s current revenue challenges are…
