Fortinet downgraded to Neutral from Buy at BTIG - InvestingChannel

Fortinet downgraded to Neutral from Buy at BTIG

BTIG analyst Gray Powell downgraded Fortinet to Neutral from Buy without a price target. The analyst has increased appliance refresh concerns following channel checks. He has consistently heard increased concerns on firewall refresh delays in 2023 from contacts who have a view on large enterprise spending. Fortinet is most exposed to this risk, Powell tells investors in a research note. He sees potential for the company’s growth to decelerate at a faster than expected pace over the course of 2023.

Related posts

Advisors in Focus- January 6, 2021

Gavin Maguire

Advisors in Focus- February 15, 2021

Gavin Maguire

Advisors in Focus- February 22, 2021

Gavin Maguire

Advisors in Focus- February 28, 2021

Gavin Maguire

Advisors in Focus- March 18, 2021

Gavin Maguire

Advisors in Focus- March 21, 2021

Gavin Maguire