- 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.
Fortinet -13%; no longer Conviction Buy at Goldman Sachs
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Symbol | Last Price | % Chg |
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FTNT | - | - |
Fortinet, Inc. |