Deutsche Bank analyst Brad Zelnick raised the firm’s price target on Fortinet to $63 from $53 and keeps a Hold rating on the shares following its Q4 results. Fortinet’s Q4 and FY23 guidance were "far better than expected," the analyst tells investors. With backlog and service expectations reasonably set into next year, Deutsche Bank is positively inclined to remain on the sidelines due to concerns around firewall and security.
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Published first on TheFly
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