F5 Networks upgraded to Overweight from Neutral at Piper Jaffray - InvestingChannel

F5 Networks upgraded to Overweight from Neutral at Piper Jaffray

Piper Jaffray analyst James Fish upgraded F5 Networks to Overweight from Neutral and raised his price target for the shares to $166 from $161. The company’s software transition is having a positive impact on cash flow, visibility, and multiple expansion, Fish tells investors in a research note. Further, he believes F5’s coming new products should act as a catalyst and accelerator of the transition. In addition, the analyst views F5 as a “solid takeout candidate for an infrastructure consolidator.” Fish believes concerns over the enterprise spending cycle, competition, China, and the company’s service provider exposure are already embedded in the shares.