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Fly News Breaks for January 7, 2019
FTNT
Jan 7, 2019 | 07:48 EDT
Oppenheimer analyst Shaul Eyal lowered his price target for Fortinet to $88 from $97 ahead of Q4 results to reflect market's multiple contraction. The analyst says his checks with 21 VARs across the U.S. and Europe indicate momentum remains intact driving a solid finish to Q4. Fortinet's continued momentum is supported by the ongoing refresh cycle coupled with strength from its Security-First approach to SD-WAN and FortiCASB solution for the Cloud, he contends. The analyst is also expecting solid performance from both the Services segment as well as the Product segment, with the latter being driven by the high-end E-Series appliance traction.
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