UPDATE: Cantor Fitzgerald Upgrades Riverbed Technology to Buy Post Sell-Off Following Deal
Cantor Fitzgerald raised its rating on Riverbed Technology (NASDAQ: RVBD) from Hold to Buy with a reiterated $24 price target.
Cantor Fitzgerald commented, "With the announced intention to acquire OPNET, we view the company as having smartly accelerated its share of wallet strategy via a target with multiple points of synergy and view the 18% sell-off on the news as an opportunistic entry point. Moreover, we view the timing as ideal, as it helps mitigate systemic risk to 1Q:13 sub-seasonality (fiscal cliff) while lapping particularly easy comparisons through June 2013."
Riverbed Technology closed at $18.47 on Wednesday.
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