Freedom Capital Markets Cuts Fortinet to Hold, Cites Valuation Despite Strong Q4 Results
Freedom Capital Markets downgraded Fortinet (FTNT) from Buy to Hold while keeping a $90 price target, pointing to valuation pressures as the primary concern. The cybersecurity vendor reported stronger-than-expected fourth-quarter 2025 results driven by a broad network equipment refresh cycle, with notable gains in product revenue and billings. Mult…