UPDATE: Cantor Fitzgerald Reiterates Buy Rating for Riverbed Technology, but Lowers PT

In a report issued earlier today, Cantor Fitzgerald L.P. reiterated its Buy rating for Riverbed Technology, Inc. RVBD, but lowered its price target from $36 to $32. Cantor Fitzgerald went on to say in the report “We expect an in-line to slightly better March on normalizing demand/sales cycles following a disruptive product transition early in the quarter. Broad expectations are that June revenue (+9%) is at risk and must come down. Checks indicate momentum supports consensus revenue within the range, with a positive EBIT margin tail-wind on gradually improving HDD pricing.” Riverbed Technology, Inc. closed on Friday at $25.52.