UPDATE: Wedbush Securities Raises PT to $20 on Riverbed Technology Ahead of Earnings
Wedbush Securities reiterated its Neutral rating on Riverbed Technology (NASDAQ: RVBD) and increased its price target from $19 to $20.
Wedbush Securities commented, "We expect in-line results with a bias towards the higher end of management's guidance given checks which suggest strength in federal and some follow through on execution from last quarter, offset by an uneven spending environment. … Near term, we think the company may do well as they make up missed sales early in the year, but we continue to advise investors to remain on the sidelines and look to become more constructive on improving sales growth and visibility."
Riverbed Technology closed at $21.97 on Friday.
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