Wells Fargo analyst Andrew Nowinski lowered the firm’s price target on Fortinet to $60 from $70 and keeps an Overweight rating on the shares. Fortinet reported another disappointing quarter as the company pivots to SASE, and the sustainability of free cash flow remains the key question, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on FTNT:
- FTNT vs. PANW: Which Cybersecurity Stock is the Better Buy Now?
- Fortinet downgraded to Market Perform on declining demand at William Blair
- Fortinet price target lowered to $55 from $70 at UBS
- Fortinet price target lowered to $55 from $68 at RBC Capital
- Fortinet price target lowered to $60 from $75 at Morgan Stanley