UPDATE: Wunderlich Securities Reiterates On Riverbed Technology Responding To 3Q Weakness

In a report published Friday, Wunderlich Securities analyst Matthew S. Robison reiterated a Hold rating on

, and raised the price target from $20.00 to $21.00. In the report, Wunderlich Securities noted, “Yesterday before regular trading, Riverbed Technology (RVBD) pre-announced less-than-expected revenue and a bit lower earnings than expected for the September quarter. However, shares traded up 2.8% because the preannouncement came with news that the board has formally decided to investigate alternatives. Because of this we are raising our price target from $20 to the $21 offer for the company that is currently available. No change to our Hold rating.” Riverbed Technology closed on Thursday at $18.59.