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Fly News Breaks for January 24, 2019
FFIV
Jan 24, 2019 | 06:50 EDT
Nomura Instinet analyst Jeffrey Kvaal lowered his price target for F5 Networks to $155 saying the company's sales in fiscal Q1 came in light as service provider "hit a slow patch." F5's pivot to software is underway though may not inflect until 2019's new products gain traction, Kvaal tells investors in a post-earnings research note. He says "likely persistent" softness in service provider lowers his growth estimates and price target. The analyst keeps a Neutral rating on F5 Networks.
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