Stock Picks: eBay, 3M, Amgen

(page 2 of 2)

F5 Networks (AMGN)

Deutsche Bank maintains buy; raises estimates, price target

Shares of F5 Networks Inc. jumped in premarket trading Oct. 22, a day after the manufacturer of products that manage and route computer network traffic reported a 44% profit increase in its fiscal fourth quarter.

Deutsche Bank analyst Brian Modoff subsequently increased his earnings estimate and raised his price target, saying the Seattle company is growing along with industry trends. In an Oct. 22 note to clients, Modoff said he believes F5 Networks "can continue to grow ahead of expectations.

Modoff said F5 Networks benefited from continued stabilization in capital spending and demand from customers and a "meaningful improvement in its deal closure rate." He raised his fiscal 2010 estimate to $1.83 per share from $1.77 and increased his fiscal 2011 estimate to $2.10 per share from $2.05 per share.

He raised his price target to $48 from $46.

TriQuint Semiconductor (TQNT)

Barclays keeps overweight

Barclays analyst Tim Luke said on Oct. 22 that TriQuint delivered third-quarter results and fourth-quarter guidance slightly below elevated expectations, which were impacted, in his view, by a CDMA inventory rebalancing at Samsung and weaker infrastructure and transport revenue.

With the shares down significantly on Oct. 22, he sees support at $6, or 12 times his 2010 EPS estimate of 51 cents. He sees longer-term upside given the company's exposure to the iPhone/Smartphone market to $8, or 16 times 2010 EPS. He kept his $8 price target.

Business Exchange

Track and share business topics across the Web.