Barclays Downgrades Fortinet to Equal-Weight, Lowers Price Target to $63
Portfolio Pulse from Benzinga Newsdesk
Barclays analyst Saket Kalia has downgraded Fortinet (NASDAQ:FTNT) from Overweight to Equal-Weight and lowered the price target from $71 to $63.
October 13, 2023 | 10:16 am
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Fortinet's stock has been downgraded by Barclays from Overweight to Equal-Weight, with a reduced price target of $63.
The downgrade from Barclays, a major financial institution, could negatively impact investor sentiment towards Fortinet. The reduced price target suggests that Barclays sees less upside potential in the stock, which could lead to selling pressure.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100