BUZZ-Fortinet up as Piper Sandler raises to 'overweight' on firewall opportunity

** Shares of cybersecurity company Fortinet FTNT.O rise 4.3% to $101.66 premarket

** Piper Sandler upgrades stock rating to "overweight" from "neutral" and raises PT to $120 from $100, which represents an upside of ~23% to stock's last close

** FTNT is best positioned to benefit from the upcoming firewall refresh cycle; recent acquisitions and innovations have helped position co well in strategically important markets - Piper Sandler

** Barclays also raises PT to $103 from $95

** 19 of 44 brokerages rate the stock "buy" or higher, 24 "hold" and 1 "sell"; their median PT is $100 - LSEG

** FTNT stock had risen ~61% in 2024

(Reporting by Jaspreet Singh in Bengaluru)

((Jaspreet.Singh@thomsonreuters.com ; https://twitter.com/i_jass))