UPDATE: Lake Street Capital Initiates Riverbed Technology at Buy on Compelling Risk/Reward
Lake Street Capital initiated coverage on Riverbed Technology (NASDAQ: RVBD) with a Buy rating and a $20.00 price target.
Lake Street Capital commented, "We expect Riverbed's future earnings will reward those with the fortitude to buy now, during the current period of uncertainty. While our $20 target points to meaningful upside, we believe the stock could nearly double if current overhangs such as OPNET integration and European and federal macro resolve favorably. Conversely, if our projections prove optimistic, we feel the stock has limited downside given the company's 12,000-customer installed base and strong free cash flow."
Riverbed Technology closed at $15.84 on Friday.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Tags: Lake Street Capital