Fly News Breaks for February 6, 2018
FTNT
Feb 6, 2018 | 09:21 EDT
BMO Capital analyst Keith Bachman raised his price target on Fortinet to $50 and kept his Outperform rating following Q4 earnings, citing the company's 71% growth in free cash flows from improved capital management and profitability. Bachman contends that the stock may be undervalued based on its ability to generate free cash flows of at least $600M, up from $560M in FY17, given that "cash flow cycle days can improve and operating margins can steadily move higher".
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