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UPDATE: Cantor Fitzgerald Downgrades Riverbed Technology to Hold on Growth Concerns

Related RVBD
Riverbed Misses 2Q Views; Offers Outlook Above Consensus
Morgan Stanley Comments On Riverbed's Guidance Cut

Cantor Fitzgerald downgraded Riverbed Technology (NASDAQ: RVBD) from Buy to Hold and lowered the price target from $24.00 to $20.00.

Cantor Fitzgerald commented, "We are reducing our rating from BUY to HOLD while lowering our price target from $24 to $20. Early views on the potential for re-acceleration in the core, coupled with attractive synergy opportunities, had Riverbed positioned as a Best Idea for 2013. However, core products showed little sign of improvement, and basic assumptions behind the acquisition synergies are coming into question. Absent a material and sustained fundamental reversal, we are concerned the multiple may experience lower highs and lower lows."

Riverbed Technology closed at $20.10 on Thursday.

Posted-In: Cantor FitzgeraldAnalyst Color Downgrades Analyst Ratings


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