Jefferies & Company Reiterates Underperform Rating, $16.25 PT on Riverbed Technology

In a report published Friday, Jefferies & Company reiterated its Underperform rating and $16.25 price target on Riverbed Technology RVBD. Jefferies noted, “We're updating our estimates in light of the closure of Riverbed's acquisition of OPNET. As we've written previously, the deal reinforces our lingering concerns that the WAN Optimization market is maturing – an ongoing structural negative for Riverbed. We believe the risk/reward in the shares is negative and are maintaining our Underperform rating.” Riverbed Technology closed on Thursday at $19.99.