UPDATE: Cantor Fitzgerald Initiates Coverage on F5 Networks with Buy Rating, $110 PT on Market Leader Position

In a report published Friday, Cantor Fitzgerald analyst Brian J. White initiated coverage on F5 Networks FFIV with a Buy rating and $110.00 price target. In the report, Cantor Fitzgerald noted, “We are initiating coverage of F5 Networks with a BUY rating and 12-month price target of $110.00. F5 Networks is recognized as the #1 vendor in the application delivering networking (ADN) market, with momentum across its security franchise. As new architectures in the data center continue, we believe F5 will prove to be a core beneficiary in the coming years. With the biggest product refresh in four years, continued momentum in the security market, and long-term opportunities around the ACE module opportunity, we believe the stock has upside potential.” F5 Networks closed on Thursday at $93.10.