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Fortinet -13%; no longer Conviction Buy at Goldman Sachs

Oct. 12, 2016 10:16 AM ETFortinet, Inc. (FTNT) StockFTNTBy: Eric McCaffrey, SA News Editor1 Comment
  • A Buy rating, however, is retained.
  • Analyst Gabriela Borges cites Fortinet's (FTNT -12.6%Q3 guidance reduction, though notes positioning, valuation and other possibilities (capital allocation, restructuring, M&A) remain positives.
  • Price target lowered from $43 to $36 (current price $29.61).
  • Additionally, Citi's Walter Pritchard maintains Fortinet at Neutral while lowering his price target to $31, from $35 previously, following the pre-announcement.

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