Cantor Fitzgerald Upgrades Riverbed Technology (RVBD) to Buy

Cantor Fitzgerald upgraded Riverbed Technology (NASDAQ: RVBD) from Hold to Buy with a price target of $24.00 following the sell-off on the OPNET takeover.

"We are upgrading Riverbed shares from HOLD to BUY with our $24 price target unchanged. With the announced intention to acquire OPNET, we view the company as having smartly accelerated its share of wallet strategy via a target with multiple points of synergy and view the 18% sell-off on the news as an opportunistic entry point. Moreover, we view the timing as ideal, as it helps mitigate systemic risk to 1Q:13 sub-seasonality (fiscal cliff) while lapping particularly easy comparisons through June 2013."

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 $18.47 yesterday.

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