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Fortinet rises after TD Cowen upgrades to 'buy'

ReutersJan 23, 2026 11:16 AM

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

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