Wedbush Maintains Outperform Rating On Fortinet

According to Wedbush, Fortinet FTNT Outperform rating is maintained. Wedbush said that it is maintaining its OUTPERFORM rating and raising the price target to $27 from $25 (split-adjusted) to reflect our expectation of continued share gains in the network security market. “We think the company's strategy to penetrate large enterprises and service providers continues to gain traction as evidenced by increasing deal sizes and share gains over rivals such as Cisco, Blue Coat and Juniper.” Fortinet closed yesterday at $23.70.