Fortinet price target raised to $87 from $78 at Mizuho

Mizuho raised the firm’s price target on Fortinet (FTNT) to $87 from $78 and keeps an Underperform rating on the shares. The company reported Q4 upside and is well positioned within network security, the analyst tells investors in a research note. While more firewall refresh is likely to occur in 2025, Mizuho continues to lack confidence in that as a meaningful catalyst, the analyst tells investors in a research note.