Evercore ISI Group Downgrades Fortinet to In-Line, Lowers Price Target to $51
Portfolio Pulse from Benzinga Newsdesk
Evercore ISI Group analyst Amit Daryanani has downgraded Fortinet (NASDAQ:FTNT) from Outperform to In-Line and lowered the price target from $78 to $51.
November 03, 2023 | 10:39 am
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Fortinet has been downgraded from Outperform to In-Line by Evercore ISI Group, with a lowered price target from $78 to $51.
The downgrade from Outperform to In-Line indicates that the analyst believes the stock will perform approximately as well as other companies in the market, rather than outperforming them. The lowered price target suggests that the analyst believes the stock is currently overvalued, which could lead to a decrease in the stock price.
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