UPDATE: JMP Upgrades Fortinet on Increased Security Breaches

Tuesday's JMP securities morning note highlighted an upgrade from analyst Erik Suppinger, boosting Fortinet

FTNT

Start Futures Trading Fast — with a $200 Bonus

Join Plus500 today and get up to $200 to start trading real futures. Practice with free paper trading, then jump into live markets with lightning-fast execution, low commissions, and full regulatory protection.

from Market Perform to Market Outperform, initiating a price target of $26. The report notes, "We believe the managed security service provider market is healthy and that the company is well positioned to accelerate share gains against competitors, such as Juniper

JNPR

. We also believe that the rash of security breaches in recent months is accelerating demand for enterprise security, particularly in the distributed enterprise, where Fortinet is particularly well positioned." FTNT is currently at $21.84, trading up from its previous close of $21.55.