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Fly News Breaks for March 12, 2019
FFIV
Mar 12, 2019 | 07:34 EDT
JPMorgan analyst Samik Chatterjee downgraded F5 Networks to Neutral from Overweight and lowered his price target for the shares to $183 from $210. The "expensive" acquisition of NGINX is "tough to digest" given the integration and execution risk, Chatterjee tells investors in a research note. The deal's valuation, at 26 times 2018 sales, valuation "sets the bar quite high" in terms of delivering on growth and revenue synergies, says the analyst.
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