Looking at the pace of upgrades, Wall Street has fallen back in love with Fortinet (FTNT) and its growth potential in the unified threat management world. From 12 strong buy/buy ratings three months ago to 18 today, the shares have gone from a sub-$17 dip in early December back into the low $20's. Perhaps just as important, though, is a more general recovery in security market conditions for Fortinet, Check Point (CHKP), and Palo Alto Networks (PANW).
Execution is still a concern, as the company needs to reverse this recent slide in margins. Likewise, there are still questions as to whether Fortinet's proprietary ASIC-driven performance advantages can stay relevant as the...
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