Fabrinet (FN) (FTNT) (MDVN) (MPW) (EXP) (FFIC) Ratings, Price Targets

Fabrinet (NYSE: FN), Fortinet, Inc. (NASDAQ: FTNT), Medivation (NASDAQ: MDVN), Medical Properties Trust (NYSE: MPW), Eagle Materials, Inc. (NYSE: EXP) and Flushing Financial Co. (NASDAQ: FFIC) ratings and price targets.

Fabrinet (FN) had its “Buy” rating reiterated by Collins Stewart. They have a price target of $18.00 on the company.

Fortinet, Inc. (FTNT) had its “hold” rating reiterated by Wunderlich. They have a price target of $20.00 on the company.

Medivation (MDVN) had its price target raised by Wedbush to $81.00.

Medical Properties Trust (MPW) had its price target raised by Jefferies Group (NYSE:JEF) to $11.00.

Eagle Materials, Inc. (EXP) was downgraded by Jefferies Group (NYSE:JEF) from a “Buy” rating to a “Hold” rating. They have a price target of $27.00 on the company.

Flushing Financial Co. (FFIC) was downgraded by FBR Capital from an “Outperform” rating to a “Market Perform” rating. They have a price target of $15.00 on the company.

Fortinet (FTNT) (CNI) (HME) (HUN) (IR) Downgraded

Fortinet, Inc. (NASDAQ: FTNT), Canadian National Railway (NYSE: CNI), Home Properties (NYSE: HME), Huntsman Co. (NYSE: HUN) and Ingersoll-Rand (NYSE: IR) were downgraded by analysts.

Canadian National Railway (CNI) was downgraded by Barclays Capital from an “Equal Weight” rating to an “Underweight” rating.

Fortinet, Inc. (FTNT) was downgraded by Robert W. Baird from an “Outperform” rating to a “Neutral” rating. They have a price target of $27.00 on the company.

Home Properties (HME) was downgraded by Keefe, Bruyette & Woods to an “Underperform” rating.

Huntsman Co. (HUN) was downgraded by Jefferies (NYSE:JEF) from a “Buy” rating to a “Hold” rating. They have a price target of $12.00 on the company.

Ingersoll-Rand (IR) was downgraded by Sterne Agee from a “Buy” rating to a “Neutral” rating.

Citigroup (C) on (MSFT) (VMW) (CRM) (ADBE) (SYMC) and Macroeconomic Effect on Sector

Referencing the upcoming Technology Conference, Citigroup (NYSE:C) software analyst Walter Pritchard said one major concern for the sector is the macroeconomic situation, which is weakening, but not yet showing up in the outlook for software companies such as Microsoft (NASDAQ:MSFT), VMWare (NYSE:VMW), Salesforce.com (NYSE:CRM), Adobe (NASDAQ:ADBE) and Symantec (NASDAQ:SYMC).

Pritchard said, “It may be a matter of time before the backdrop catches up with software companies,” as the probable fallout hasn't hit the estimates for the firms yet.

Among his favorites in the software sector are Taleo (NASDAQ:TLEO), Verisign (NASDAQ:VRSN), Symantec, and Check Point (NASDAQ:CHKP).

Other companies in the Conference will be Autodesk (NASDAQ:ADSK), BMC Software (NASDAQ:BMC), CA (NASDAQ:CA), Citrix Systems (NASDAQ:CTXS), Dassault Systems (OTC:DASTY), Fortinet (NASDAQ:FTNT) and SuccessFactors (NASDAQ:SFSF).

Visa (V) (WPI) (WSR) (FTNT) (HOG) (AKAM) Get New Coverage

Visa Inc. (NYSE: V), Watson Pharmaceuticals Incorporated (NYSE: WPI), Whitestone Reit (NYSE: WSR), Fortinet, Inc. (NASDAQ: FTNT), Harley-Davidson, Inc. (NYSE: HOG) and Akamai Technologies (NASDAQ: AKAM) getting new analyst coverage.

Leerink initiated coverage on Watson Pharmaceuticals Incorporated (WPI). They placed a “Market Perform” rating on the company.

Sterne Agee initiated coverage on Visa Inc. (V). They placed a “Buy” rating and a price target of $110.00 on the company.

Ladenburg Thalmann initiated coverage on Whitestone Reit (WSR). They placed a “Buy” rating and a price target of $13.50 on the company.

Jefferies (NYSE:JEF) initiated coverage on Fortinet, Inc. (FTNT). They placed a “Hold” rating on the company.

Keybanc initiated coverage on Harley-Davidson, Inc. (HOG). They placed a “Positive” rating and a price target of $48.00 on the company.

Jefferies initiated coverage on Akamai Technologies (AKAM). They placed an “Underperform” rating and a price target of $18.00 on the company.

Southern (SO) (UA) (FTNT) (HOTT) (GBX) (GDOT) Upgraded

Southern Co (NYSE: SO), Under Armour, Inc. (NYSE: UA), Fortinet, Inc. (NASDAQ: FTNT), Hot Topic Inc (NASDAQ: HOTT), Greenbrier Companies (NYSE: GBX) and Green Dot Co. (NASDAQ: GDOT) upgraded by analysts.

Under Armour, Inc. (UA) was upgraded by FBR Capital from a “Market Perform” rating to an “Outperform” rating. They have a price target of $80.00 on the company.

Fortinet, Inc. (FTNT) was upgraded by Pacific Crest to an “Outperform” rating. They have a price target of $26.00 on the company.

Hot Topic Inc. (HOTT) was upgraded by Piper Jaffray (NYSE:PJC) from an “Underweight” rating to a “Neutral” rating.

Greenbrier Companies (GBX) was upgraded by Longbow Research from a “Neutral” rating to a “Buy” rating. They have a price target of $24.00 on the company.

Southern Co. (SO) was upgraded by ISI Group from a “Sell” rating to a “Hold” rating.

Green Dot Co. (GDOT) was upgraded by Goldman Sachs (NYSE:GS) from a “Neutral” rating to a “Buy” rating.

Moodys (MCO) (MLNX) (FTNT) (IPCM) (ISIL) Price Targets Raised

Price targets on Moodys Corporation (NYSE: MCO), Mellanox Technologies, Ltd. (NASDAQ: MLNX), Fortinet, Inc. (NASDAQ: FTNT), IPC The Hospitalist (NASDAQ: IPCM) and Intersil Corp. (NASDAQ: ISIL) raised by analysts.

The Benchmark Company raised their price target on Moodys Corporation (NYSE: MCO) from $38.00 to $43.00. They have a “buy” rating on the company.

JPMorgan Chase & Co. (NYSE:JPM) raised their price target on Mellanox Technologies, Ltd. (MLNX) from $29.00 to $31.00.

Deutsche Bank (NYSE:DB) raised their price target on Fortinet, Inc. (FTNT) from $40.00 to $44.00.

RBC Capital raised their price target on IPC The Hospitalist (IPCM) from $44.00 to $50.00. They have a “sector perform” rating on the company.

Longbow Research raised their price target on Intersil Corp. (ISIL) from $15.00 to $18.00. They have a “buy” rating on the company.

Jarden (JAH) (LNC) (LSI) (FTNT) (ISIL) Price Targets Adjusted

Price targets on Jarden Co. (NYSE: JAH), Lincoln National Co. (NYSE: LNC), LSI Co. (NYSE: LSI), Fortinet, Inc. (NASDAQ: FTNT) and Intersil Corp. (NASDAQ: ISIL) adjusted by analysts.

JPMorgan Chase & Co. (NYSE:JPM) raised their price target on Intersil Corp. (ISIL) from $13.00 to $14.00.

Morgan Keegan raised their price target on Fortinet, Inc. (FTNT) from $47.00 to $50.00. They have an “outperform” rating on the company.

RBC Capital raised their price target on Jarden Co. (JAH) from $42.00 to $44.00. They now an “outperform” rating on the company.

FBR Capital raised their price target on Lincoln National Co. (LNC) from $36.00 to $38.00. They have an “outperform” rating on the company.

JPMorgan Chase & Co. raised their price target on LSI Co. (LSI) from $7.00 to $8.00.

Hess (HES) (HGIC) (EQIX) (GLW) (FTNT) Price Targets Adjusted

Price targets on Hess Corp (NYSE: HES), Harleysville Group Inc. (NASDAQ: HGIC), Equinix, Inc. (NASDAQ: EQIX), Corning Inc. (NYSE: GLW) and Fortinet, Inc. (NASDAQ: FTNT) adjusted by analysts.

Kaufman Brothers raised their price target on Equinix, Inc. (EQIX) from $83.00 to $85.00. They have a “hold” rating on the company.

RBC Capital raised their price target on Fortinet, Inc. (FTNT) from $44.00 to $48.00. They have an “outperform” rating on the company.

Goldman Sachs (NYSE:GS) raised their price target on Corning Inc. (GLW) to $25.00. They have a “neutral” rating on the company.

Oppenheimer raised their price target on Hess Corp (HES) from $84.00 to $94.00. They have an “outperform” rating on the company.

RBC Capital cut their price target on Harleysville Group Inc. (HGIC) from $37.00 to $35.00. They have a “sector perform” rating on the company.

Fortinet (FTNT) (FLEX) (FTI) (CTXS) (EQIX) Price Targets Adjusted

Price targets on Fortinet, Inc. (NASDAQ: FTNT), Flextronics International Ltd. (NASDAQ: FLEX), FMC Tech (NYSE: FTI), Citrix Systems, Inc. (NASDAQ: CTXS) and Equinix, Inc. (NASDAQ: EQIX) adjusted by analysts.

Morgan Keegan raised their price target on Citrix Systems, Inc. (CTXS) from $80.00 to $90.00. They have an “outperform” rating on the company.

Stifel Nicolaus raised their price target on shares of Equinix, Inc. (EQIX) from $110.00 to $120.00. They have a “buy” rating on the company.

JPMorgan Chase & Co. (NYSE:JPM) cut their price target on Flextronics International Ltd. (FLEX) from $10.00 to $8.50. They have an “overweight” rating on the company.

Global Hunter Securities raised their price target on FMC Tech (FTI) from $43.50 to $49.00. They have a “neutral” rating on the company.

Needham & Company raised their price target on Fortinet, Inc. (FTNT) from $44.00 to $53.00. They have a “buy” rating on the company.

Fortinet (NASDAQ:FTNT) Soars at it Exceeds Expectations in Several Categories

The share price of Fortinet Inc. (NASDAQ:FTNT) was rocking today, as the company beat expectations in a number of categories for the quarter.

Needham says, "The Fortinet DecQ results were better than expected, beating on billings, revenue and EPS. Guidance for both MarQ and CY11 was above consensus, and demonstrated how Fortinet is gaining momentum in its key markets of large enterprise and telco service providers. We believe Fortinet is increasingly viewed as a “safe” solution, as potential customers become aware of the growing market presence and strong financial results of FTNT, a relative newcomer in security and UTM software appliances. Looking into CY11, we believe the secular trends which favor Fortinet should continue, including: increased enterprise adoption of “all in one” security appliances; increasing appetite among telcos for FTNT equipment to enable “hosted cloud services”; overall growth of spending on network security in enterprises. CY11 guidance is above consensus, and reflects FTNT’s confidence in accelerating traction among enterprise and telco customers.

"MarQ guidance was above consensus revenue and bracketed EPS. CY11 outlook of $370-385m and $0.62-0.64 EPS is above consensus $371m and $0.59. We are raising our CY11 to $383m and $0.64 EPS; introducing CY12 of $446m revenue and $0.77 EPS."

Needham & Company maintains a "Buy" rating on Fortinet (FTNT), which was trading at $38.92, gaining $5.00, or 14.74 percent, as of 1:59 PM EST. Needham raised their price target on Fortinet from $38 to $44.

Wedbush Recommends Fortinet (Nasdaq:FTNT) At Current Levels

For investors interested in investing in the network security segment, Wedbush recommends Fortinet (Nasdaq:FTNT) at its current levels, as well as their being a market leader.

Wedbush said "that the business remains resilient and that investors looking for exposure to the network security segment through a clear market leader should purchase shares near current levels."

They boosted their fourth quarter EPS estimate on Fortinet from 14 cents to 15 cents and its full year 2011 EPS estimate from 60 cents to 61 cents. That's above the Street estimates of 14 cents and full year 2011 EPS of 58 cents.

Wedbush maintains their "Outperform" rating on Fortinet, which closed Wednesday at $36.58, gaining $0.52, or 1.44 percent. Wedbush raised their price target on FTNT from $30 to $40.