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Technology Stocks : Citrix Systems (CTXS)

CTXS 103.90

0.0%

Nov 2 5:00 PM EST

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To: Mike Buckley who wrote (6607)	5/24/1999 10:34:00 PM
From: David Perfette	Read Replies (2) of 9068

S&P just issued a stock report for Citrix, here's an excerpt. In early 1999, we initiated coverage of Citrix with an accumulate recommendation. We believe the company is uniquely positioned to benefit from the increasing demand for the more rapid and efficient deployment of applications across networks. Recently trading at about 29 times our earnings estimate for FY 00, we believe the shares are an unusual value for a high quality tech- nology company growing earnings at a lofty rate. The shares became more attractive on a value basis, after the company: 1) raised $292.5 million in March 1999, with the sale of convertible debentures, increasing the amount of CTXS's cash and short-term investments to $456.5 million ($4.87 per share); and 2) announced a $200 million share buyback in April 1999. CTXS would carry our highest investment rating, but with uncertainties associated with the Year 2000 looming, we give the shares an accumulate opinion. -David

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