Oppenheimer Sees Upside for Radware (RDWR), Raises Numbers

March 25, 2013 8:58 AM EDT
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Price: $14.69 +0.48%

Rating Summary:
    8 Buy, 4 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Oppenheimer raised estimates and its price target on Outperform-rated Radware (NASDAQ: RDWR) from $40 to $43 following checks that suggest upside.

"Following checks, we believe Radware's March quarter is trending above the mid-point of the company's guidance," analyst Ittia Kidron said. "We now believe EPS can still come within the initial $0.43-$0.46 guidance even when including dilution from the Strangeloop acquisition. Our checks point to some gains from Cisco ACE replacements, solid growth in the US, and stability in Europe. Also, the partnership with Check Point is developing nicely, and after allocating resources, revenue from Juniper in now finally coming in. These, along with tight OpEx control, could prove management's initial $0.06 dilution target (full-year 2013) for Strangeloop conservative."

The firm raised FY13 EPS from $1.93 to $1.96.

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 $37.75 yesterday.

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