UPDATE: Wunderlich Securities Maintains Hold On Riverbed Technology Following Activist Shareholder Filing

In a report published Tuesday, Wunderlich Securities analyst Matthew Robison maintained a Hold rating on Riverbed Technology RVBD and raised the price target from $17.00 to $18.00. In the report, Wunderlich Securities says "Monday, for the first time in 5+ years, Riverbed Technology (RVBD) held an analyst meeting to formally introduce recent executive staff changes and assert corporate growth objectives, which center on achieving product line synergies and full integration of acquired companies. 2014 targets are moderately above our prior forecast, which is now updated to reflect corporate goals. The increase in our target price to $18 from $17 is based on our model of the value of future earnings and reflects the model changes. No change to our Hold rating; price appreciation since an activist shareholder filing (13D) earlier this month is over 19% and has already captured the implications of our forecast revision." Riverbed Technology closed on Monday at $18.02.