J.P. Morgan Initiates Coverage Of Riverbed (RVBD)

J.P. Morgan initiates coverage of Riverbed RVBD in a research report this morning, rating the stock Overweight with a $43 price target. In the report, J.P. Morgan states, "We initiate coverage of Riverbed with an Overweight rating and a $43 December 2011 price target. Even though RVBD has outperformed the NASDAQ by 2% YTD, we still believe low consensus 2011 estimates leave room for further outperformance this year. Not only do we see continued data center consolidation as a key driver of revenue growth in 2011, but we also believe the company should see continued expansion of operating margins as revenues scale." Riverbed shares are currently trading at $36.52, up 3.05% from Thursday's market close.