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Fortinet Inc. Message Board

  • busy26795 busy26795 Oct 10, 2013 8:59 AM Flag

    FTNT Fortinet target raised to $26 at Oppenheimer; confidence levels increasing following late 3Q checks

    FTNT Fortinet target raised to $26 at Oppenheimer; confidence levels increasing following late 3Q checks

    Oppenheimer raises its FTNT tgt to $26 from $24. Following a final round of 3Q checks, firm's confidence levels have increased and it believes FTNT should be reporting results at the top end of guidance. Opco's elevated bullish view is based on: 1.) anecdotal US (41% of revenue) checks suggesting an increased number of seven digit contracts; 2.) strength in Europe (34% of revenue); 3.) strong pipeline build-up for 4Q.

    Sentiment: Strong Buy

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    • Fortinet (NASDAQ:FTNT) had its price objective raised by Oppenheimer from $24.00 to $26.00 in a research report Analyst Ratings News Oppenheimer currently has an outperform rating on the stock.
      A number of other analysts have also recently weighed in on FTNT. Analysts at Stifel Nicolaus raised their price target on shares of Fortinet from $23.00 to $25.00 in a research note to investors on Thursday, August 1st. They now have a buy rating on the stock. Separately, analysts at Raymond James raised their price target on shares of Fortinet from $21.00 to $24.00 in a research note to investors on Thursday, August 1st. They now have an outperform rating on the stock. Finally, analysts at Jefferies Group raised their price target on shares of Fortinet from $23.00 to $24.00 in a research note to investors on Thursday, August 1st. They now have a buy rating on the stock. Thirteen equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $24.94.

      Sentiment: Strong Buy

 
FTNT
41.23-0.05(-0.12%)Jul 2 4:00 PMEDT