Market Overview

UPDATE: Wunderlich Securities Downgrades F5 Networks to Hold Post Weak Q4 Results

Related FFIV
Earnings Scheduled For July 23, 2014
Will Altera Corp. (ALTR) Beat Earnings Estimate this Season?
Tech Sector Lags as EMC, Juniper Sink (Fox Business)

Wunderlich Securities reduced its rating on F5 Networks (NASDAQ: FFIV) from Buy to Hold and lowered its price target from $115 to $100.

Wunderlich Securities noted, "With the forecast cut, we are reducing our target to $100 from $115 and also revising our rating to Hold from Buy. Despite prodigious cash flow, there is not enough near-term catalysts to buy the shares. However, the after-hours trading price of $83.25 represents an EV/2013E EBITDA of 7.8x (this is after subtracting the free cash flow we forecast for 2013 from the EV) and may be attractive for those willing to wait through a decaying economic environment. Our target represents an EV/2013E EBITDA of 9.9x."

F5 Networks closed at $93.32 on Wednesday.

Posted-In: Wunderlich SecuritiesAnalyst Color Downgrades Intraday Update Analyst Ratings

 

Most Popular

Related Articles (FFIV)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free