Barclays Maintains an 'Equalweight' on ARRIS Group (ARRS); Putting Excess Cash to Work

Barclays maintains an 'Equalweight' on ARRIS Group (NASDAQ: ARRS), PT $13.

Barclays analyst says, "We view ARRIS' increased share repurchase program as a positive and in line with management's historical practices. Excluding the buyback, ARRIS' net cash position is efficient enough to support operations and the company's "tuck-in" acquisition strategy, particularly given the cash generation dynamics of the business...We remain encouraged by an apparent improvement in pricing trends and management's willingness to put excess to work in driving shareholder value. We, however, believe visibility on the key catalyst to shares -- top line recovery -- remains limited."

For more ratings news on ARRIS Group click here and for the rating history of ARRIS Group click here.

Shares of ARRIS Group closed at $11.10 yesterday.

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