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

Cantor Fitzgerald downgraded Riverbed Technology 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.