Wells Fargo Maintains an 'Outperform' on F5 Networks (FFIV); Starting The Year Strong - Raising Estimates And Range

Wells Fargo maintains an 'Outperform' on F5 Networks (NASDAQ: FFIV) price target raised from $112-122 to $124-$129.

Wells analyst says, "F5 reported better-than-expected Q1 results and guided Q2 above the consensus. While top-line strength in the period was driven mostly by services, strong uptake of new products (TMOSv11 and the VIPRION 2400), increased software attach rates and solid sales productivity appears to be giving the company confidence it can achieve better than seasonal sales trends during the March period and at least 20% growth during FY2012. We believe F5's outlook appears achievable and recommend investors look for pullbacks to buy F5 shares. Post Q1 results, we raise our FY2012E and FY2013E EPS from $4.41 and $5.31 to $4.47 and $5.36 and increase our range."

For an analyst ratings summary and ratings history on F5 Networks click here. For more ratings news on F5 Networks click here.

Shares of F5 Networks closed at $108.46 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Cisco FQ4 earnings preview: Can this print drive more upside?
• Cantor Fitzgerald Reiterates Overweight Rating on Merlin Labs (MRLN)
• UBS Reiterates Buy Rating on HF Sinclair (DINO)