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Wells Fargo Maintains Underweight on Fortinet, Raises Price Target to $160

Oct 15, 2026, 1:55 PMBenzinga Newsdesk

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BenzingaOct 16, 2026, 4:45 PMBenzinga News-desk
Shares of software companies are trading lower amid a rotation out of technology and AI-related stocks. Rising inflation concerns and elevated oil prices are fueling expectations for further Fed tightening, while elevated borrowing costs could weigh on demand, valuations and debt metrics.
ADBE AI AIBZ AMOD ASAN
BenzingaOct 15, 2026, 5:39 PMBenzinga Newsdesk
Mizuho Maintains Underperform on Fortinet, Raises Price Target to $160
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The Motley FoolOct 14, 2026, 4:42 PMDanny Vena, Cpa
Why Fortinet Stock Slumped on Wednesday
Fortinet stock fell 2.9% on Wednesday following reports that OpenAI is in preliminary talks to acquire Trail of Bits, a cybersecurity and security research company. The news sparked investor concerns that OpenAI may be entering the cybersecurity market as a potential competitor. However, analysts note investors may be getting ahead of themselves, drawing parallels to previous SaaS stock concerns that proved overblown.
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