UPDATE: FBN Securities Reiterates Sector Perform Rating, Raises PT on F5 Networks
In a report published Friday, FBN Securities reiterated its Sector Perform rating on F5 Networks (NASDAQ: FFIV), and raised its price target from $100.00 to $110.00.
FBN Securities noted, “We retain our Sector Perform rating on FFIV and increase our PT from $100 to $110. The company has experienced notable product revenue deceleration over the past several quarters (to only 4% in FQ1/Dec. from 18% three quarters before), and its product book-to-bill ratio of <1.0 following 1.0 the prior quarter) does not bode well for product revenue growth in FQ2/Mar. However, the company has many new products that will contribute to revenue growth in FH2 that should result in significant product revenue acceleration.”
F5 Networks closed on Thursday at $103.22.
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