UPDATE: Wunderlich Securities Raises Price Target on F5 Networks to $120

According to Wunderlich Securities, F5 Networks (NASDAQ: FFIV) price target is raised to $120.

Wunderlich Securities said that F5 Networks (FFIV) started 2012 by demonstrating the ability of new products to sustain gross margin improvement. “We are elevating our estimates moderately and increasing our price target to $120 from $110. Our Hold rating is unchanged.”

F5 Networks closed yesterday at $108.46.