Truist analyst Junaid Siddiqui initiated coverage of Fortinet with a Buy rating and $82 price target. The company is one of the best positioned security names to benefit from vendor consolidation based on its product breadth, the analyst tells investors in a research note. Truist adds that it is positive on Fortinet’s balanced approach to growth and profitability, making the company a defensible name in a challenging macroeconomic environment.
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