UPDATE: Morgan Keegan Raises PT on Fortinet to $30

Morgan Keegan is out with its report today on Fortinet (NASDAQ: FTNT), raising its PT from $25 to $30.

In a note to clients, Morgan Keegan writes, "Given our positive checks as well as continued belief that Fortinet is the technology and share leader in the nascent and fast growing UTM market, we reiterate our Outperform rating and increase our price target on Fortinet shares to $30."

At the time of posting, shares of FTNT were trading pre-market at $27.30, down 0.18% from Monday's close.