F5 stock could stagnate from here, per BofA; Barclays slashed: 6 big analyst cuts
Investing.com — Here is your Pro Recap of the biggest analyst cuts you may have missed since yesterday: downgrades at RTX, Barclays, Bath & Body Works, and BOK Financial.
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BofA Securities on Thursday downgraded F5 Networks (NASDAQ:FFIV) to Underperform from Neutral, trimming the price target by $5.00 to $160.00.
The analysts said they «expect revenue growth to remain muted, at -2% and +4% over the next two years,» and added that they believe the stock may continue to outperform their coverage universe after lagging the Nasdaq in four of the last five years, with particularly sharp underperformance year to date (up 6% for 2023 so far vs. 23% for the Nadsaq).
They highlighted «two main risks that may keep a lid on the stock» — challenges to both software and systems — which they believe pose risks to the company's top-line guidance for fiscal years 2024 and 2025.
Shares opened with a drop, but were eking out a fractional gain to $152.60 around midday.
Barclays (NYSE:BCS) shares were slipping Thursday after BofA Securities lowered the company to Underperform from Neutral and cut its price target to $7.31 from $8.77.
Earlier this week, Barclays reported its Q3 results and signaled another restructuring round in the coming months to mitigate the effects of margin pressure from competition in the savings market, as well as another lackluster performance from its investment bank.
BofA analysts remarked, «A potential material but unspecified restructuring charge to deliver unspecified benefits over an unspecified time period adds to uncertainty about Barclays strategy and financial targets.”
Though such changes might improve longer-term
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