Sep. 17 at 10:36 AM
$FTNT Fortinet price target raised to
$145 from
$102 at Bernstein
Bernstein raised the firm's price target on Fortinet to
$145 from
$102 and keeps a Market Perform rating on the shares. The firm notes cybersecurity investor sentiment has swung back to positive as the demand signals continued to point up in its mid-year CISO and CIO surveys and further boosted by recent increasing discussion about slowing AI Lab progression due to cyber risk. From the start of 2026, many of Bernstein's covered cybersecurity names have appreciated roughly 100%-plus and crowding scores for the space increased significantly. The firm says it needs to raise its price target multiple regression by a couple of turns, highlighting that companies it found "too cheap" previously now seem fairly valued.
