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Late on F5 Networks call, Piper Jaffray analyst tells clients to 'chase' stock

Source: F5’s

Piper Jaffray missed the pop in shares of F5 Networks following earnings, but told clients that the results were so good there is further to run in the stock. Analyst Troy Jensen upgraded the data networking company to overweight from neutral.

"Following F5's upbeat results, shares were trading up 5 percent in after-market trading and we expect the stock to trade even higher over the next few quarters," wrote Jensen in a research note.

"Given our confidence that product growth is set to accelerate, we would advise investors to chase shares as we see at least 10 percent-plus upside remaining in the stock over the next 12 months,"

In early trading Thursday, shares of F5 Networks were up more 10 percent, at a new 52-week high.

Jensen's picks have a 14 percent one-year average return with a 57 percent success rate, according to analyst ranking service TipRanks, placing him in the top 4 percent of all Wall Street analysts covering any industry.