UPDATE: Wedbush Raises PT to $39 on Radware Following In-Line Results and Guidance

Wedbush reiterated its Outperform rating on Radware

and raised the price target from $38.00 to $39.00. Wedbush said, "We maintain our OUTPERFORM rating as in-line results and guidance, as well as strength in NA, suggest that the fundamental story remains intact and Radware remains well positioned with partnerships, despite the environment, which continues to impact growth. … Generally in-line guidance a positive given sluggish IT environment and seasonally weak quarter. … OUTPERFORM and increasing PT to $39 based on our 2014 P/E analysis." Radware closed at $35.32 on Monday.