Deutsche Bank Reports On Q1 Pre-Announcement From RVBD

Deutsche Bank reports that after yesterday's market close, Riverbed Technology

pre-announced positive Q1 results. Based upon this pre-announcement, the analyst maintains its Hold rating and price target of $33. In the report, Deutsche Bank writes, “We maintain our neutral outlook on Riverbed, given our checks suggesting relatively early stages of ramp for their Cloud Storage Appliance and incremental sales trends in their WAN optimization business' skewed towards the large multi-national enterprises. We are constructive on Riverbed's progress in the Cloud appliance market given the potential for Cloud IT services optimization to be a meaningful growth driver for the company, especially as prospects for their core WAN optimization business is starting to narrow to the higher-end of the enterprise and datacenter market segments.” RVBD closed yesterday at $33.07.