UPDATE: Credit Suisse Initiates Coverage on F5 Networks with Outperform Rating, $140 PT on App-Driven Growth

In a report published Tuesday, Credit Suisse analyst Vlad Rom initiated coverage on

with an Outperform rating and $140.00 price target. In the report, Credit Suisse noted, “F5 Networks is a unique asset levered to both enterprise and consumer application growth. While the virtual appliance and SDN/DevOps disruptions may alter the landscape, we believe that, for now, F5 is uniquely positioned to harness its role as datacenter gatekeeper. For FY14/FY15, we forecast revenues of $1.73bn/$1.95bn and EPS of $5.36/$6.29 and see the potential for upside.” F5 Networks closed on Monday at $107.11.