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Fly News Breaks for March 13, 2019
FFIV
Mar 13, 2019 | 09:15 EDT
DA Davidson analyst Mark Kelleher lowered his price target on F5 Networks to $170 and kept his Neutral rating after the company's decision to buy NGINX for $670M. The analyst cites the "significant premium" paid by F5 Networks, leading to its expected near-term earnings dilution and only incremental contribution to its "security growth profile". Kelleher is also skeptical that the deal can have a meaningful impact on the revenue growth trajectory of F5 Networks.
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