Fortinet receives downgrade as firewall refresh disappoints: Morgan Stanley

1 week ago 1
Fortinet office in Burnaby, BC, Canada

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Fortinet (NASDAQ:FTNT) was downgraded to Underweight from Equal-weight by Morgan Stanley due in part to a disappointing firewall refresh.

Morgan Stanley also reduced its price target on the stock to $67 from $78.

"We see FTNT as continuing to be

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