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Fly News Breaks for August 8, 2019
FFIV
Aug 8, 2019 | 07:42 EDT
As previously reported, Morgan Stanley analyst James Faucette upgraded F5 Networks to Equal Weight from Underweight with an unchanged price target of $130, citing his view that the valuation is now "more appropriate" following recent declines in the stock. He estimates F5 can generate greater than $700M in free cash flow per year and sees that level of cash flow potential as "too high" to stay Underweight on the stock, especially if a share repurchase plan is reinstated, Faucette explained.
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