Fundamentals Should Return Riverbed (RVBD) to Growth in FY14; Lazard Raises to Buy
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Price: $20.99 --0%
Rating Summary:
5 Buy, 27 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
5 Buy, 27 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Lazard Capital upgraded Riverbed Technology (Nasdaq: RVBD) from Neutral to Buy, while setting a $21 price target Wednesday.
Analyst Ryan Hutchinson noted a slowing core business, but solid fundamentals should help Riverbed return to a growth trajectory in 2014. He comments, "Our fieldwork suggests that Riverbed continues to execute on its vision to become a more strategic infrastructure asset, and we believe an expanded offering via Granite and NPM/APM provide newer avenues for growth while creating a stickier customer base." The company's risk/reward profile is also favorable.
On Granite, Hutchinson thinks release of the second-generation product will be a catalyst, enabling momentum throughout 2014.
Hutchinson also met with CFO Ernie Maddock recently, feeling more comfortable with he integration of Opnet and that he is a solid fit in his current role.
On federal spending, Hutchinson notes that this is a key element for Riverbed. He notes, "We believe visibility is starting to improve and our recent meetings with management suggest that longer-term drivers such as DC consolidation remain intact."
Into the open, Riverbed is indicated up 3.6 percent.
Analyst Ryan Hutchinson noted a slowing core business, but solid fundamentals should help Riverbed return to a growth trajectory in 2014. He comments, "Our fieldwork suggests that Riverbed continues to execute on its vision to become a more strategic infrastructure asset, and we believe an expanded offering via Granite and NPM/APM provide newer avenues for growth while creating a stickier customer base." The company's risk/reward profile is also favorable.
On Granite, Hutchinson thinks release of the second-generation product will be a catalyst, enabling momentum throughout 2014.
Hutchinson also met with CFO Ernie Maddock recently, feeling more comfortable with he integration of Opnet and that he is a solid fit in his current role.
On federal spending, Hutchinson notes that this is a key element for Riverbed. He notes, "We believe visibility is starting to improve and our recent meetings with management suggest that longer-term drivers such as DC consolidation remain intact."
Into the open, Riverbed is indicated up 3.6 percent.
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