Deutsche Bank reiterated its Buy rating on F5 Networks FFIV and reduced its price target from $140 to $136.
Deutsche Bank noted, "F5 reported a decent Q2, driven by strong sales to financial services and better than expected EMEA. The Q3 guide ($365 m / $1.18 on the mid-point) was below consensus, indicative of the near-term weakness in IT spending and some customers purchasing software modules, while stretching out the BIG-IP refresh. Still, we remain positive on F5's FY13 growth opportunities in next-gen security, telcos, and Private Clouds; noting potential for near-term TAM and multiple expansion."
F5 Networks closed at $98.59 on Wednesday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in