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Checks Point to Solid Q4 at Radware (RDWR)

January 3, 2013 9:42 AM EST Send to a Friend
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Price: $17.48 -1.02%

Rating Summary:
    8 Buy, 3 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 6
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Checks by analysts at Oppenheimer point to solid Q4 orders and business activity at Radware (NASDAQ: RDWR). The checks showed strong demand in China, Korea, Australia and India coupled with continued solid demand in the US. As expected, demand in Europe was soft.

"Overall, our checks point to solid demand and pipeline activity in the US coupled with strong demand in Asia, offsetting an expected mixed demand environment in Europe," said analyst Ittai Kidron.

Kidron thinks RDWR's relationship with Check Point (NASDAQ: CHKP) seems to be delivering dividends but the company wasn't see gains with partnership Juniper (NASDAQ: JNPR).

"We're not sure exactly why traction is limited but we believe the two companies are working to improve traction and we wouldn't be surprised to see Radware commit some resources here," said Kidron.

Oppenheimer has an Outperform rating on Radware (NASDAQ: RDWR) with a price target of $40.00.

For an analyst ratings summary and ratings history on Radware click here. For more ratings news on Radware click here.

Shares of Radware closed at $34.19 yesterday.




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