BUZZ-Fortinet rises after TD Cowen upgrades to 'buy'
Reuters
Jan 23
BUZZ-Fortinet rises after TD Cowen upgrades to 'buy'
** Shares of cybersecurity firm Fortinet FTNT.O rise 2.9% to about $79.9 in premarket trading
** TD Cowen lifts co's rating to "buy" from "hold"; maintains PT at $100
** Brokerage says it sees its FY26 billings estimate of 11.6% revised higher on stable spending as AI is not replacing security software but rather augmenting it
** 11 of 43 brokerages rate the stock "buy" or higher, 29 "hold" and three "sell"; their median PT is $86 - LSEG data
** Shares were down about 16.2% in 2025
(Reporting by Parth Chandna)
((Parth.Chandna@thomsonreuters.com;))
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