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F5 Networks (FFIV) Stock Price Target Lowered at RBC Capital Markets

NEW YORK (TheStreet) -- RBC Capital Markets lowered its price target for F5 Networks (FFIV - Get Report) to $130 from $140 on Monday, reiterating its "outperform" rating for the Application Delivery Networking (ADN) technology company.

The analyst firm lowered its 2016 EPS estimates for the company to $7.10 a share from $7.18 a share. RBC also lowered its 2017 EPS estimates for the company to $8 from $8.06 a share.

RBC analyst Mark Sure said that F5 Networks' traditional ADC business is maturing, noting that it is offset by add-on modules and security, "which are small but growing well."

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"F5 is dominant in ADC's, a market that may be slowing a bit as some web companies attempt to provide certain rudimentary application prioritization services in the cloud," Sure wrote. "F5 is seeing decent trends with some enterprises and telcos, and we see a long tail...