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Fly News Breaks for May 4, 2018
FTNT
May 4, 2018 | 05:23 EDT
JPMorgan analyst Sterling Auty raised his price target for Fortinet to $58 saying the company a "good" Q1 that was inflated by accounting changes. It will take time for investors to digest the impacts of Accounting Standards Codification 606 on the quarter and guide for revenue and margins, Auty tells investors in a research note. He sees the quarter as a balance with billings up 15% and margin expansion. The analyst keeps a Neutral rating on Fortinet shares.
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