F5 (FFIV +0.7%) opened lower, but has since turned positive. FBR launched coverage with an...


F5 (FFIV +0.7%) opened lower, but has since turned positive. FBR launched coverage with an Outperform and $120 PT after the close yesterday: the firm thinks recent competitive fears (presumably involving Citrix/Cisco) are overblown. Wedbush recently raised its PT to $110, arguing F5 will benefit from customer upgrades and rising carrier capex, and is well-positioned to gain share and expand into markets adjacent to its core application delivery controller business.

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