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Fly News Breaks for November 2, 2018
FTNT
Nov 2, 2018 | 08:47 EDT
RBC Capital analyst Dan Bergstrom raised his price target on Fortinet to $76 after its Q3 earnings came in better than expected on 18% product growth rate - the highest since Q2 of 2016. The analyst notes that the company is benefiting from a "favorable environment, broad based Fabric-led strength and product refresh tailwinds". Bergstrom also keeps his Sector Perform rating given the competitive nature of the firewall market and the possibility of pricing pressures impacting future results.
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