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Palo Alto and many security peers have reported seeing price pressure. Cisco is widely believed to be a culprit.
Without a close above $38, expect a slow decline back down to support at $30.
Fortinet (FTNT) stock rating was boosted to 'overweight' from 'sector weight' at Pacific Crest on Tuesday morning.
Here are Tuesday's top research calls, including upgrades for Barracuda, Fortinet and McDonald's, and a downgrade for Imperva.