Analysts have been eager to weigh in on the Technology sector with new ratings on Fortinet (FTNT), Proofpoint (PFPT) and BCE (BCE).
Fortinet (FTNT)
In a report released today, Daniel Ives from Wedbush maintained a Buy rating on Fortinet, with a price target of $185.00. The company’s shares closed last Thursday at $156.99, close to its 52-week high of $157.07.
According to TipRanks.com, Ives is a top 100 analyst with an average return of 37.5% and a 77.1% success rate. Ives covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Nuance Communications, and Palo Alto Networks.
Currently, the analyst consensus on Fortinet is a Moderate Buy with an average price target of $167.20, which is a 10.5% upside from current levels. In a report issued on January 21, Cleveland Research also maintained a Buy rating on the stock.
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Proofpoint (PFPT)
Needham analyst Alex Henderson assigned a Buy rating to Proofpoint today and set a price target of $150.00. The company’s shares closed last Thursday at $130.19.
According to TipRanks.com, Henderson is a top 100 analyst with an average return of 30.5% and a 67.3% success rate. Henderson covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Applied Optoelectronics, and Acacia Communications.
Proofpoint has an analyst consensus of Moderate Buy, with a price target consensus of $147.20, a 13.2% upside from current levels. In a report issued on January 27, Truist Financial also maintained a Buy rating on the stock with a $155.00 price target.
BCE (BCE)
Canaccord Genuity analyst Aravinda Galappatthige maintained a Hold rating on BCE yesterday and set a price target of C$58.00. The company’s shares closed last Thursday at $43.73.
According to TipRanks.com, Galappatthige is a 4-star analyst with an average return of 6.2% and a 57.4% success rate. Galappatthige covers the Services sector, focusing on stocks such as Cogeco Communications, Corus Entertainment, and Yellow Media.
Currently, the analyst consensus on BCE is a Moderate Buy with an average price target of $47.63, implying a 10.7% upside from current levels. In a report issued on January 22, J.P. Morgan also maintained a Hold rating on the stock with a C$60.00 price target.
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