BTIG analyst Gray Powell reiterated a Buy rating for Fortinet (FTNT).
Powell raised the price target to $150 from $125. The new target represents a 20% increase. This valuation suggests a potential upside of roughly 12% from the previous closing price.
The revision follows Fortinet’s strong first-quarter performance. The company also provided an improved fiscal 2026 outlook that beat expectations. BTIG cited robust demand for security solutions as a driver for sustained revenue growth.