Shares of F5 Charge Higher Following Barclays Upgrade, Raised Target to $107

Barclays' Ben Reitzes upgraded shares of F5 Networks

from Equalweight to Overweight and boosted his price target from $89 to $107 Monday morning. Reitzes raised investment recommendation on the stock comes on the heels of more than 30 percent move higher since a July-low under $70. The analyst said he believes this trend higher is currently only in the "middle innings." Reitzes cited recent channel checks which point to strength as well ass reassuring reports from players in the networking sector. He believes the security segment poses substantial opportunity for F5 heading into next year. Shares of F5 are up about 3.5 percent to $93.05 Monday morning. Reitzes new price target represents potential upside of about 15 percent from where the stock is currently trading.