Jefferies Raises Numbers on Riverbed (RVBD) Followng Q3, Keeps Hold Rating

Jefferies boosted its price target and estimates on Riverbed Technology (NASDAQ: RVBD) following Q3 results but is keeping its 'Hold' rating.

"Riverbed's Q3 results and Q4 guidance suggest that previous product transition hiccups are now largely behind them. Riverbed reported a strong Q3, with revenues and EPS modestly above Street expectations. Guidance for Q4 revenue and EPS also looked good."

Q4 EPS estimates go from $0.28 to $0.29 and FY12 from $0.95 to $1.00.

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 $20.69 yesterday.

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