UPDATE: Stifel Reiterates Buy Rating, Lowers PT on Citrix Systems Following Disappointing 3Q13 Revenue/EPS

In a report published Thursday, Stifel analyst Brad Reback reiterated a Buy rating on

, but lowered the price target from $81.00 to $70.00. In the report, Stifel noted, “On the heels of a solid 2Q13 print, Citrix preannounced disappointing 3Q13 revenue and EPS figures, sending shares down 10%+ in after-hours trading. In particular, Citrix disclosed that revenue is expected to be between $710M-$712 million (up 11% Y/Y at the mid-point), below guidance of $730M-$740M (up 15% Y/Y) laid out about 2 months earlier. Additionally, EPS is now expected to be roughly $0.68-$0.69, below prior guidance of $0.72-$0.73. Management did not provide color around the miss and will instead provide full details during its 3Q13 earnings call slated for Wednesday, October 23rd at 4:45PM.” Citrix Systems closed on Wednesday at $66.66.