UPDATE: Cantor Fitzgerald Initiates Buy, $36 on Riverbed Technology

Cantor Fitzgerald initiates a Buy rating and price target of $36 on Riverbed Technology RVBD as the company still presents upside opportunity following share price recovery. Cantor Fitzgerald says, "The stock has fully recovered from the lows of January following disappointing March guidance. We believe March has tracked well, but with a month to go it is not yet a foregone conclusion - admittedly leaving the near-term still subject to greater risk than our longer-term view. Similar to the transition in 2H:08, we expect the product cycle introduced in 1Q:11 will accelerate share consolidation, albeit at the expense of near-term disruption." RVBD closed at $26.72 a share yesterday.
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Posted In: Analyst ColorPrice TargetInitiationIntraday UpdateAnalyst RatingsCantor Fitzgerald
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