Evercore ISI raised the firm’s price target on F5 Networks to $210 from $180 and keeps an In Line rating on the shares after a June-end quarter that came in modestly ahead on the top line but a 39c beat on EPS, driven by strong margins. F5 is benefiting from its transition from a hardware centric to software centric company and the firm thinks the company has line-of-sight to do greater than $14 in EPS in FY25 given the prudent self-help levers it implemented through this downcycle, the analyst tells investors.
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