UPDATE: Barclays Starts Radware (RDWR) at Overweight; Continued Momentum From Fast Growing Market

June 25, 2012 7:26 AM EDT
Get Alerts RDWR Hot Sheet
Price: $14.48 --0%

Rating Summary:
    8 Buy, 4 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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(Updated - June 25, 2012 1:36 PM EDT)

Barclays initiates coverage on Radware (NASDAQ: RDWR) with an Overweight. PT $45.00.

Analyst, Joseph Wolf, said, "RDWR participates in the fast growing market for application delivery controllers (ADCs) a space that market leader F5 (Nasdaq: FFIV) estimates is growing 20% this year. We believe that RDWR is well positioned to grow at least as fast as the market given its OEM opportunity with Juniper (Nasdaq: JPNR) that could reach 10% of sales in 4Q12, opportunities based on virtualization trends, and growth in its security/attack mitigation business."

Wolf does point out a few risks, saying that the valuation is high on RDWR and JNPR, and he might be a little late on the call considering RDWR shares are up 35% Year-To-Date.

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 $38.30 yesterday.

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