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Fly News Breaks for May 3, 2019
FTNT
May 3, 2019 | 07:47 EDT
Citi analyst Walter Pritchard downgraded Fortinet to Sell from Neutral and lowered his price target for the shares to $78 from $84. The company's "underwhelming" Q1 sets up a tougher 2019, Pritchard tells investors in a post-earnings research note. Momentum of the business, across the board, decelerated in the quarter, says the analyst. He believes Fortinet is competing in more commodity markets, which supports multiple compression.
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