Fortinet (FTNT) Stock: $70 Target And Outperform Rating

By Amit Chowdhry ● Jul 5, 2022
  • The shares of Fortinet Inc (NASDAQ: FTNT) have received a $70 price target from BMO Capital. These are the details.

The shares of Fortinet Inc (NASDAQ: FTNT) have received an $70 price target from BMO Capital. And BMO Capital analyst Keith Bachman upgraded Fortinet to an “Outperform” rating from a “Market Perform” rating.

This price target accounts for the company’s recent 5-for-1 stock split with the like-for-like pre-split price target rising to $350 from $325. And security is expected to remain among the most resilient parts of IT spending during a recession. Plus Bachman pointed out that Fortinet should sustain above-20% revenue and billing growth and high-30% free cash flow margins through next year.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.