F5 upgraded to Outperform from In Line at Evercore ISI

Evercore ISI upgraded F5 (FFIV) to Outperform from In Line with a price target of $475, up from $320. The firm thinks the market underappreciates F5’s direct exposure to AI inference traffic. It also sees pricing as “structural driver” of the company’s growth. Evercore expects continued mid-singe-digit price realization, supported by competitor actions and cost-inflation pass-through. F5’s incremental revenue should drive meaningful margin expansion as growth sustains in the high-single-digit range, adds the firm.