F5 Networks (FFIV) PT Raised to $165 at Nomura/Instinet as Software Strength Leads to Multiple Expansion

Nomura/Instinet analyst Jeffrey Kvaal raised the price target on F5 Networks (NASDAQ: FFIV) to $165.00 (from $145.00) after strength in software lifted F5 sales growth above consensus, marking the
third quarter in four where software has exceeded growth expectations.

The analyst maintained a Buy rating on the belief that these strong results, despite the "soft spending climate may be the catalyst the stock needs to trade at multiples more in line with its software model".

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