Thursday, December 30, 2010

Riverbed Technology's (NASDAQ:RVBD) Competition Weakening, Outlook Better

Based on fundamentals and what appears to be weakening competition, Riverbed Technology (NASDAQ:RVBD) is set for some solid growth in 2011.

Wedbush says, "...prospects for solid growth and improving fundamentals appear favorable due to healthy demand in its core WAN optimization market, an increasingly benign competitive environment, and traction from new products late in 2011."

They raised their Q410 and FY11 EPS and revenue estimates in response to the positive outlook.

Wedbush reiterates their "Outperform" rating on Riverbed Technology, which closed Wednesday at $35.38, up $1.21, or 3.54 percent. They raised their price target on Riverbed from $34 to $40.

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