KeyBanc analyst Thomas Blakey lowered the firm’s price target on F5 Networks to $182 from $190 and keeps an Overweight rating on the shares given lower EBITDA estimates due to macro-related pressures on F5’s software business, particularly new software business, tied to large software project delays at customers. The firm continues to view F5 as well positioned to benefit from secular growth in application, security, and infrastructure monetization in hybrid/multicloud environments long-term and views the company as a sustainable, profitable grower supporting an Overweight rating.
Published first on TheFly
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