Fortinet price target raised to $86 from $75 at Wedbush

Wedbush analyst Daniel Ives raised the firm’s price target on Fortinet to $86 from $75 and keeps an Outperform rating on the shares following quarterly results. “Despite the New York City cab driver being bearish on Fortinet into this print the company came through in Brock Purdy-like fashion and delivered a massive quarter and solid guidance,” the firm says.