Blue Coat Acquisition of Packeteer May Benefit Riverbed (RVBD) -Wedbush Morgan
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This morning, Wedbush Morgan is out with a research note on Riverbed Technology (Nasdaq: RVBD) following the Company's earnings beat yesterday after the close. Wedbush has a Hold rating and $15 price target on shares of Riverbed.
The firm said, "While we continue to remain on the sidelines, we are increasingly positive about Riverbed as we believe the downside risk is limited." Interestingly, Wedbush believes that Blue Coat's (Nasdaq: BCSI) acquisition of Packeteer (Nasdaq: PKTR) could be beneficial to Riverbed.
Wedbush lowered its FY08 EPS estimate on Riverbed from $0.52 to $0.50. The Street expects EPS of $0.53.
Riverbed Technology, Inc. provides solutions to the fundamental problems of wide-area distributed computing in the United States and internationally. [BCS]
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