Riverbed Gains On Talk HPQ, JNPR May Bid

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Riverbed (RVBD) shares are higher again today on rumors that the company could be an acquisition target.

TheFlyOnTheWall.com reports that there are rumors that Junioer and Hewlett-Packard have both talked to Riverbed about a deal in the $34-$35 a share range. A similar rumor drove the stock higher last week.

Meanwhile, Wells Fargo analyst Jess Lubert today launched coverage of the company with a Market Perform rating and a valuation range of $23-$25. “We are positive on Riverbed’s positioning in the $1 billion WAN optimization market and we believe the company should benefit from its growing distribution channel,” Lubert writes, while adding that “positive developments in the company’s business are fully reflected in the stock price.”

RVBD today is up $1.40, or 5.9%, to $25.04. The stock has rallied nearly 22% over the last 8 sessions.