Truist Securities Maintains Buy on Fortinet, Lowers Price Target to $70
Portfolio Pulse from Benzinga Newsdesk
Truist Securities analyst Joel Fishbein maintains a Buy rating on Fortinet (NASDAQ:FTNT) but lowers the price target from $80 to $70.

May 03, 2024 | 1:57 pm
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Truist Securities maintains a Buy rating on Fortinet but lowers the price target from $80 to $70.
While the maintenance of a Buy rating by Truist Securities indicates continued confidence in Fortinet's fundamentals and growth potential, the reduction in the price target could reflect adjustments in valuation expectations, possibly due to market conditions or revised earnings forecasts. This mixed signal might lead to short-term price volatility as investors reassess their expectations based on the new target price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100