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FTNT

Fortinet

$34.09

-0.9 (-2.57%)

06:51
10/12/16
10/12
06:51
10/12/16
06:51

Fortinet price target lowered to $46 from $54 at JPMorgan

JPMorgan analyst Sterling Auty lowered his price target for Fortinet to $46 following the company's negative Q3 preannouncement but keeps an Overweight rating on the name. Issues in execution, primarily in North America, impacted sales, Auty tells investors in a research note. The analyst, however, says he is standing behind his "cash flow growth thesis."

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FTNT Fortinet
$34.09

-0.9 (-2.57%)

08/30/16
PACS
08/30/16
DOWNGRADE
PACS
Sector Weight
Imperva downgraded to Sector Weight from Overweight at Pacific Crest
Pacific Crest analyst Rob Owens downgraded Imperva (IMPV) to Sector Weight saying the company's fundamentals continue to be challenged. Iimproved performance will take longer than the Street appreciates, Owens tells investors in a research note. The analyst sees a "limited number" of strategic suitors for Imperva and thinks the current share price could prevent "meaningful upside" should a buyer step in. Owens coupled the downgrade with upgrades this morning of Barracuda (CUDA) and Fortinet (FTNT) to Overweight.
08/30/16
08/30/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. McDonald's (MCD) upgraded to Outperform from Neutral at Baird by analyst David Tarantino, who believes the stock's risk/reward has become more favorable following the year-to-date underperformance. The analyst admits that slower U.S. industry demand trends and challenging upcoming comparisons pose a "short-term headwind," but thinks the company's "attractive" dividend yield can help to limit further downside risk in the shares. 2. United Continental (UAL) upgraded to Outperform from Market Perform at Raymond James, with analyst Savanthi Syth applauding the selection of Scott Kirby as President and Andrew Levy as CFO. Syth said both have strong industry experience and has increased conviction United will reduce its margin gap relative to its peers over the next 12-18 months. 3. VMware (VMW) upgraded to Buy from Neutral by SunTrust analyst John Rizzuto, who says that the company has effectively diversified beyond its server virtualization roots. The analyst, who expects the company's revenue to bottom this year and accelerate through the end of the decade, raised his price target on the stock to $92 from $64. 4. Barracuda (CUDA) upgraded to Overweight from Sector Weight at Pacific Crest, as analyst Rob Owens said he's seeing improved trends due to the company's renewed product alignment and cloud-centric channel marketing campaign. 5. Fortinet (FTNT) upgraded to Overweight from Sector Weight at Pacific Crest by Rob Owens, who believes management's focus on enhanced profitability should drive share outperformance. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/23/16
OPCO
09/23/16
NO CHANGE
OPCO
Outperform
Speculation suggests Imperva takeover in 'near sight,' says Oppenheimer
Oppenheimer analyst Shaul Eyal is not surprised to see the list of potential Imperva (IMPV) buyer candidates mentioned in an article from Bloomberg, which includes Cisco (CSCO), IBM (IBM), Fortinet (FTNT), Akamai (AKAM), and privately held Forcepoint. The analyst envisions Imperva's product line aligning particularly well with Cisco's and IBM's given the recent drive by both to expand their security offerings. Eyal sees a potential price target ranging between $55-$60 if the speculation has any merit and sufficient interest from multiple bidders. Oppenheimer has an Outperform rating on Imperva's shares.
10/12/16
PIPR
10/12/16
NO CHANGE
Target $30
PIPR
Neutral
Piper sees Fortinet issues as company specific
Piper Jaffray analyst Andrew Nowinski believes the issues that drove Fortinet's (FTNT) negative Q3 preannouncement are company specific. He lowered his price target for the shares to $30 from $33 and keeps a Neutral rating on the name. Nowinski points out that his firm's channel checks suggest demand has remained strong for both Palo Alto Networks (PANW) and Check Point (CHKP). The analyst recommends adding to positions in both names following any pressure from the Fortinet miss.

TODAY'S FREE FLY STORIES

CIVB

Civista

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MNTA

Momenta

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  • 21

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MNTA

Momenta

$16.05

-2.95 (-15.53%)

20:19
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SNAP

Snap Inc

20:00
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  • 02

    Mar

BA

Boeing

$175.56

2.85 (1.65%)

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Boeing attempts to accelerate satellite manufacturing process, WSJ says »

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  • 22

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DBOEY

Deutsche Boerse

$8.64

0.065 (0.76%)

19:50
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FB

Facebook

$133.72

0.19 (0.14%)

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Facebook nears deal to expand European headquarters, Bloomberg says »

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GOOG

Alphabet

$831.66

3.59 (0.43%)

, GOOGL

Alphabet Class A

$849.27

2.72 (0.32%)

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Alphabet

$831.66

3.59 (0.43%)

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$849.27

2.72 (0.32%)

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WMT

Wal-Mart

$71.45

2.08 (3.00%)

19:20
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Wal-Mart adds some in-house brands to Jet.com, Bloomberg says »

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AAPL

Apple

$136.70

0.98 (0.72%)

19:13
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  • 13

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AMZN

Amazon.com

$856.44

11.37 (1.35%)

19:05
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Amazon to sell beer, wine in 'Amazon Go' store, Recode says »

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ARII

American Railcar

$46.03

-0.62 (-1.33%)

, IEP

Icahn Enterprises

$54.95

-1.03 (-1.84%)

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ARII

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$46.03

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IEP

Icahn Enterprises

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FB

Facebook

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0.19 (0.14%)

, TWTR

Twitter

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TWTR

Twitter

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TX

Ternium

$23.69

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, TYEKF

ThyssenKrupp

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NTB

Butterfield

$32.93

-0.08 (-0.24%)

, CG

Carlyle Group

$16.20

0.15 (0.93%)

18:30
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Syndicate
Butterfield announces offering of 9.56M shares of common stock for holders »

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NTB

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$32.93

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CG

Carlyle Group

$16.20

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  • 22

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CPRT

Copart

$60.30

1.29 (2.19%)

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  • 22

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DAL

Delta Air Lines

$51.21

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GSS

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GSS

Golden Star Resources

$0.99

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  • 22

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CY

Cypress Semiconductor

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XPO

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WMGI

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HCLP

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RRGB

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FSLR

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LNTH

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GE

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TRCO

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WLL

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TEX

Terex

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PZZA

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$85.63

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FE

FirstEnergy

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0.32 (1.03%)

PKD

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GBT

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$28.50

1.6 (5.95%)

CUZ

Cousins Properties

$8.66

0.01 (0.12%)

YUM

Yum! Brands

$67.67

-0.73 (-1.07%)

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GLA

GlassBridge

, IMN

Imation

$0.77

-0.0091 (-1.17%)

17:41
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GlassBridge implements name change, reverse stock split »

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GLA

GlassBridge

IMN

Imation

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HVT

Haverty Furniture

$22.95

0.4 (1.77%)

17:37
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Earnings
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  • 22

    Feb

CUZ

Cousins Properties

$8.66

0.01 (0.12%)

17:36
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Breaking Syndicate news story on Cousins Properties »

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