Raymond James Maintains Outperform on Fortinet, Lowers Price Target to $70
Portfolio Pulse from richadhand@benzinga.com
Raymond James analyst Adam Tindle has maintained an 'Outperform' rating on Fortinet (NASDAQ:FTNT), but lowered the price target from $75 to $70.
August 04, 2023 | 3:13 pm
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Fortinet's price target has been lowered from $75 to $70 by Raymond James, though the 'Outperform' rating is maintained.
The lowering of the price target by Raymond James could potentially create a negative sentiment among investors, which might put downward pressure on the stock price. However, the maintained 'Outperform' rating indicates that the analyst still sees potential upside, which could counterbalance the negative sentiment.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100