Goldman Sachs Upgrades F5 Networks (FFIV) to Buy, Says Estimates Have Stabilized

Goldman Sachs upgraded F5 Networks (NASDAQ: FFIV) from Neutral to Buy with a price target of $106.00 (from $104.00).

The firm comments, "F5's hares have lagged the S&P/NASDAQ by 29%/30% year-to-date as product revenue yoy growth has decelerated and consensus estimates have been cut. Product revenue growth yoy has decelerated from 18% in the March 2012 quarter, and we expect it will bottom at 5% yoy growth in the March 2013 quarter. We believe estimates have stabilized and could begin to move upward as early as this Thursday's Analyst Day due to three product revenue opportunities we analyze in this report."

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 $86.14 yesterday.

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