RE:RE:RE:RE:New Dates for Briefs...and Citrix starts promoting their stock to offset the coming bad news.
September 11, 2015, 11:18 A.M. ET
Citrix Sets New $500 Million Buyback; Buy the Stock, Says Cowen
Enterprise software maker Citrix Systems (CTXS) this morning announced a new $500 million buyback plan, adding to the $116 million the company announced it had remaining at the end of Q2 in July.
Gregg Moskowitz of Cowen & Co., who has an Outperform rating on the shares, writes “We don’t view the announcement as a big surprise, given that its prior authorization was running low, and we had previously noted buybacks as a potential lever for the co.”
“Still,” he goes on, “we would buy CTXS here – given recent underperformance amid the market swoon – as an inexpensive stock with catalyst.”
Citrix stock is down 23 cents at $69.67, in an overall down market.