F5 rises on William Blair upgrade to 'outperform'

AP News
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Posted: Aug 12, 2011 6:39 PM
F5 rises on William Blair upgrade to 'outperform'

Shares of F5 Networks Inc. rose almost 8 percent Friday after an analyst upgraded the stock, saying it is "too inexpensive to pass up."

THE UPGRADE: William Blair & Co. upgraded F5 Networks to "outperform" from "market perform."

THE ANALYSIS: William Blair said F5, which provides information technology and networking equipment and services, has "a history of successfully navigating downturns" and "a competitive position (that) remains second to none."

CAUTIOUS OUTLOOK: The firm warned, however, that Wall Street's current fourth-quarter and full-year fiscal 2012 projections for F5 could be aggressive given "the recent tumult of world events and financial market gyrations."

SHARE ACTION: Shares of F5 Networks closed up $5.78 at $81.90 Friday.