BofA raised the firm’s price target on F5 Networks (FFIV) to $260 from $180 and keeps an Underperform rating on the shares. Following F5’s Q1 results earlier this week, the firm took a deeper look at F5’s fundamentals and says it sees “a better near-term growth outlook.” However, most of the growth drivers are bolstered by temporary factors, the multiple is back to its historical high, and Q1 “may have been the best quarter for the year,” the analyst added in reiterating the firm’s Underperform rating on the shares.
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