Fortinet (FTNT) Downgraded as Analysts Reassess 2026 Growth Outlook

Core Viewpoint - Fortinet, Inc. has been downgraded by Scotiabank from Sector Outperform to Sector Perform, with a price target set at $85, due to concerns that the optimism surrounding its growth in 2026 is overstated [1][2]. Company Overview - Fortinet is recognized as a strong cybersecurity company that provides enterprise-level next-generation firewalls and network security solutions, utilizing artificial intelligence in its products [2][3]. - The company is considered legendary in its field, with a compelling offering in core secure networking [1]. Analyst Insights - The downgrade is based on recent quantitative analysis and feedback from Chief Information Security Officers (CISOs) at mid to large-sized enterprises, indicating a less optimistic outlook for Fortinet in 2026 [2]. - Analysts suggest that while Fortinet has potential, other AI stocks may present greater upside potential and lower downside risk [2].