Jefferies Upgrades Riverbed Technology (RVBD) to Hold

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Jefferies upgraded Riverbed Technology (NASDAQ: RVBD) from Underperform to Hold with a price target of $14.00 (from $17.25), primarily on valuation.

The firm comments, "We still believe the WAN Optimization market is maturing – an ongoing structural negative for the business. Nonetheless, the shares have traded below our prior $17.25 price target. At current levels, we think the risk/reward is now more evenly balanced."

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 $15.49 yesterday, with a 52 week range of $15.20-$41.83.

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