WR Hambrecht raises its price target on Riverbed Technology (Nasdaq: RVBD) from $25 to $40, saying, since its IPO in September, the company has continually stayed one step ahead of the competition while creating considerable shareholder value.
The firm said, "Based on our recent channel checks, we believe the Company is currently tracking ahead of plan for the December quarter. We feel that strength has been driven by impressive customer additions, large-sized Steelhead projects with 'one powerful tail', and a compelling product roadmap-all of which we believe poise the Company to continue growth and market share gains well into 2007 and beyond."
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