Jefferies analyst, George Notter, maintained his Hold rating on shares of F5 Networks (NASDAQ: FFIV) but raised his price target to $110.00 (from $100.00), a 10% discount to yesterday's close. F5’s June results, September guidance and conference call discussion didn’t really change the analyst's bigger picture impressions of the business.

The company put up a solid quarter and seems to be executing quite well right now. However, he remains concerned about the outlook for Product revenue growth. Product growth, of course, is a key element driving the valuation multiple investors should be willing to pay for the business.

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 $121.47 yesterday.