F5 Networks (FFIV) shares have posted a double-digit percentage gain this morning, thanks to strong June quarter results, impressive guidance for the fiscal fourth quarter ending September and some enthusiastic commentary from the Street.
RBC Capital analyst Mark Sue this morning raised his rating on the stock to Outperform from Sector Perform while ratcheting up his target price to $90, from $70. He writes that the network equipment provider may be benefiting from “dot-coms, social networking sites and telcos” boosting their network spending. HE ups his FY 2010 EPS estimate to $2.42 from $2.26, and lifts 2011 to $2.95, from $2.57.
Meanwhile:
- Pacific Crest analyst Brent Bracelin repeats his Outperform rating, boosting his target price to $90, from $80. He notes that the company is “firing on all cylinders,” and says that “mobility and virtualization trends have become more meaningful growth drivers for F5.”
- Miller Tabak analyst Alex Henderson repeated his Buy rating, upping his target to $95, from $80. “As F5 delivers results like this its very hard not to appreciate why this company should be a core investment for technology investors.”
- Wedbush analyst Rohit Chopra repeated his Outperform rating, lifting his target to $95, from $80. “We believe strong growth across all geographies, increasing backlog and pipeline and better-than-expected guidance and decreasing competition suggest the company can sustain momentum for the next several quarters.”
- Lazard Capital analyst Ryan Hutchinson repeated his Buy rating, boosting his target to $86, from $80.
- McAdams Wright analyst Sid Parakh maintains his Hold rating, but lifts his target to $85, from $70. His more cautious stance on the stock, he writes, reflects “increasing macro uncertainty and limited upside from current levels.”
There seems to be pretty loose limits on the upside today: FFIV is up $9.77, or 13.4%, to $82.88.
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