UPDATE: Nomura Downgrades F5 Networks to Neutral from Buy, Raises TP to $111.00 from $100.00

In a report published Thursday, Nomura analyst Stuart Jeffrey downgraded F5 Networks, Inc.

from Buy to Neutral, raising its price target to $111.00 from $100.00. According to the report, the analysts cite that they may be a little premature in their downgrade as positive momentum could drive the stock a little higher in the coming quarter or two. Thus, they believe that investors would need to be very nimble to trade the stock above current levels and believe that existing owners should look to use near-term positive momentum to lock-in some profits. “We continue to see scope for 8% to 12% revenue growth on a 10-year view,” the report noted. “With revenue growth likely to reach 18% in FYQ2 and 15% for FY14, we see scope for the stock to overshoot fundamentals in the coming couple of quarters. Recent max P/E multiple of 20x drives near-term limit of $127.” FFIV closed Wednesday at $97.48.