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Fly News Breaks for February 7, 2020
FTNT
Feb 7, 2020 | 06:46 EDT
Credit Suisse analyst Brad Zelnick raised his price target for Fortinet to $115 from $95, saying Q4 results were "solid across the board" with beats on revenue, billings and free cash flow. While it is hard to ignore how well the company has executed, Zelnick tells investors in a research note that he sees much of the emerging opportunity in SD-WAN priced in at this point and remain cognizant of the longer term risks to a hardware centric approach in an increasingly cloud and edge first world. He maintains a Neutral rating.
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