Jefferies Downgrades Riverbed Technology (RVBD) to Underperform

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Jefferies downgraded Riverbed Technology (NASDAQ: RVBD) from Hold to Underperform with a price target of $16.25 (from $20.00) following the OPNET acquisition.

"In light of the OPNET acquisition, we think the risk/reward in the shares is negative. Moreover, the deal reinforces our concerns that the WAN Optimization market is maturing – an ongoing structural negative for the business," the analyst comments.

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

Shares of Riverbed Technology closed at $22.62 yesterday, with a 52 week range of $13.30-$30.73.

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