Fortinet Lauds Fortinet Results, 2021 Guidance
12:49 PM EST, 02/05/2021 (MT Newswires) -- Fortinet (FTNT) has potential tailwinds this year after another strong quarter, which verified it as "an increasingly viable enterprise vendor," KeyBanc Capital Markets said in a note to vendors on Friday.
Post-earnings checks indicate a positive 2021 security outlook that was bolstered by the SolarWinds hack, the firm said. Another tailwind includes a possible hardware refresh in the second half, which may be a tailwind, the bank's analysts said.
Valuation is "attractive," KeyBanc said.
The bank has a price target of $185 a share with an overweight rating.
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