iPhone 5 Will Create 'Significant' Upside in F5's (FFIV) North American Traffic -ThinkEquity

June 11, 2012 11:35 AM EDT
Get Alerts FFIV Hot Sheet
Price: $143.37 --0%

Rating Summary:
    21 Buy, 30 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Shares of F5 Networks (Nasdaq: FFIV) are outperforming the broader stock market Monday morning following some reassuring comments from ThinkEquity's Rajesh Ghai.

The analyst believes F5 will see traffic from North American carriers jump significantly when Apple (Nasdaq: AAPL) unveils the LTE iPhone 5.

The comment was made ahead of Apple's World Wide Developers Conference which is taking place in San Francisco Monday afternoon. While buzz around the tech sector suggests Apple could introduce such items as iOS 6, its own mapping function, and/or a Mac refresh, the next version of the iPhone is not expected til later this year.

The ThinkEquity analyst modestly reduced his price target on shares of F5 from $138 to $135. Ghai maintains a Buy rating.

With F5 shares up 0.4 percent to $102.76 at last check, Ghai's new price target implies potential upside of about 31 percent.

Visit our Analyst Ratings page to track all the market-moving analyst calls on shares of F5.

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