Fortinet stock price target raised at Wedbush, citing stock split and increasing cyber threats

Wedbush raised its Fortinet Inc. stock price to $76 from $68 on Tuesday, citing the cybersecurity company’s recent stock split and an increasingly complex cyber threat environment. “While a slowing macro and potential recession are being closely watched, priorities are clear for CIOs [Chief Information Officers] and CISOs [Chief Information Security Officers] in this environment as protecting enterprises against rising sophisticated threats is a major issue for Boards and C- Level with more data migrating to the cloud and vulnerabilities across the board (endpoints, mobile, access levels),”wrote Wedbush analyst Dan Ives,…