Citi Previews 2Q On Riverbed Technology

Citi published a research report on Riverbed Technology (NASDAQ: RVBD) that previewed 2Q results.

According to Citi's report, "With RVBD shares trading at 41x F12M earnings, decelerating growth and an increasingly worrisome macro environment (most notably, Europe and Government Spending), we believe RVBD is fairly valued at current levels. Maintain our Hold rating and price target of $38 (32x our FY12 EPS estimate of $1.18)."

Citi rated Riverbed Technology a High Risk Hold with a target price of $38.00. Riverbed Technology closed yesterday at $39.01.