UPDATE: Morgan Stanley Initiates Coverage on F5 Networks

According to a research report published this morning, Morgan Stanley has initiated F5 Networks FFIV with an Overweight rating and $155 PT. Morgan Stanley said in the report, "We believe F5 is a core holding in the networking space where application layer processing is taking over from the traditional packet forwarding tech of ‘90s/'00's. Leverage to Cloud, Virtualization and Security leads to accelerating revenue growth in '13 and above consensus ests." F5 Networks closed Friday at $131.63.