Morgan Stanley raised the firm’s price target on F5 Networks (FFIV) to $280 from $269 and keeps an Equal Weight rating on the shares. A fiscal Q2 beat was driven by Systems revenue being up 27% year-over-year, which the firm calls “remarkable for a business once expected to be in secular decline.” However, little observance of macro weakness and quarter-over-quarter volatility “makes it difficult to gain confidence in out year model,” the analyst added.
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