UPDATE: Morgan Stanley Initiates F5 Networks at Overweight on Cloud Leverage

Morgan Stanley notes in a recent report that it initiates its coverage on F5 Networks

with an Overweight rating and a price target of $155. Morgan Stanley says, "We believe F5 is a core holding in the networking space where application layer processing is taking over from the traditional packet forwarding tech of ‘90s/'00's. Leverage to Cloud, Virtualization and Security leads to accelerating revenue growth in '13 and above consensus ests." FFIV closed at $131.63 on Friday.