Piper Sandler upgrades Fortinet on firewall refresh optimism


Investing.com — Piper Sandler upgraded Fortinet Inc (NASDAQ:FTNT) to “chubby” with a $120 value goal given sturdy prospects for a firewall refresh cycle set to speed up in 2025.

The brokerage sees Fortinet because the “finest technique to play” this development, pushed by bettering IT spending and elevated concentrate on cybersecurity amid geopolitical tensions and the rise of generative AI threats.

The be aware highlighted elevated CIO optimism for safety spending, marking essentially the most bullish survey responses in a decade. Piper Sandler additionally flagged consolidation in safety, with Actual Time Utility Safety Platforms (RTAPP) anticipated to realize prominence.

Fortinet joins Piper Sandler’s high 2025 picks, with shares like Atlassian (NASDAQ:TEAM), GitLab, SentinelOne (NYSE:S), and Zscaler (NASDAQ:ZS).

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