UPDATE: Wedbush Downgrades Riverbed Technology; Lowers PT

According to a research report published earlier today, Wedbush has downgraded Riverbed Technology

from Outperform to Neutral, and lowered its $28 PT to $23. In the report, Wedbush said, “[We] believe there is significant risk to full-year guidance, due to the ongoing product transition, elongating sales cycles, sales execution issues, a mixed demand environment and uncertainty regarding federal spending.” Riverbed Technology is currently trading at $20.13.