Needham & Company Reiterate Buy Following Netscout Systems (NTCT) Announced Buyback Program

Needham & Company reiterates a Buy rating and $48 price target on NetScout (NASDAQ: NTCT) following last nights announcement of a new buyback program.

Needham & Company analyst Scott Zeller commented on the announcement, saying, "Last night after the close, NetScout (NTCT – BUY - $48 target) announced a new buyback program which should help support the planned acquisition of DHR (n/r) assets, announced back in October. The NTCT shareholder vote for the deal will be June 25th, and an exchange offer has already begun, with roughly a 7% incentive/discount for DHR shareholders to surrender their shares for NTCT shares. We continue to believe the cost synergies of NTCT + DHR are understated, and upward EPS revisions are possible. Reiterate BUY. Our $48 target is 19x our $2.23 FY16 and based on "organic" stand-alone NTCT."

For an analyst ratings summary and ratings history on NetScout click here. For more ratings news on NetScout click here.

Shares of NetScout closed at $40.65 yesterday.

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