UBS analyst Roger Boyd lowered the firm’s price target on Fortinet to $55 from $70 and keeps a Neutral rating on the shares. The Q3 print was “messy,” and the firm sees a significantly more moderated growth outlook, the analyst tells investors in a research note. The firm remains on the sidelines following the miss and guide down, tempered FY24 commentary, and SecOps and SASE reorganization.
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