Needham & Company Starts Radware (RDWR) at Buy, Sees 35% Upside

Needham & Company initiates coverage on Radware (NASDAQ: RDWR) with a Buy with a $45 price target, suggesting 35% upside.

"We have long believed F5 Networks (NASDAQ: FFIV) had established an insurmountable lead in ADC, but now, we think Radware with its Alteon Websystems platforms, has been able to build a competitive leadership position by fully embracing virtualization."

Needham & Company is conservatively forecasting 12.5 percent growth, but sees a potential to 20 percent when the economy regains its footing.

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 $33.53 yesterday.

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