Barclays Maintains Overweight on Fortinet, Lowers Price Target to $71
Portfolio Pulse from Benzinga Newsdesk
Barclays analyst Saket Kalia maintains an Overweight rating on Fortinet (NASDAQ:FTNT) but lowers the price target from $86 to $71.

August 04, 2023 | 3:51 pm
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NEUTRAL IMPACT
Barclays maintains an Overweight rating on Fortinet but lowers the price target from $86 to $71.
While the Overweight rating indicates that Barclays expects Fortinet to outperform the market, the reduction in price target could lead to some short-term uncertainty among investors. However, the impact on the stock price is likely to be neutral in the short term as the lowered price target is still above the current trading price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100