RBC Capital analyst Matthew Hedberg raised the firm’s price target on F5 (FFIV) to $425 from $375 and keeps an Outperform rating on the shares. The company is in the early innings of a multi-quarter hardware “refresh plus” cycle amplified by growing AI workloads, the analyst tells investors in a research note. RBC further notes that AI could help drive above-trend Software growth and also believes that these items will be a focus of F5’s upcoming May 28 analyst day.
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