Fortinet rises after TD Cowen upgrades to 'buy'

Fortinet

23/01/2026 11:16

** 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;))