UPDATE: Needham & Company Upgrades Radware on Multiple Positive Factors

In a report published Monday, Needham & Company analyst Alex Henderson upgraded the rating on

from Hold to Buy, and named a $21.00 price target. In the report, Needham & Company noted, “We are upgrading Radware to Buy from Hold based on the benefits of its new product launch of Alteon-NG, easy comps and the improving visibility. We are setting a $21 target price, a potential 28% upside. We reached out to Radware's CEO, US sales head, CFO, and COO post Cisco. We come away confident that they are well positioned going into year-end and into CY14's easy comparisons.” Radware closed on Friday at $16.33.