Bernstein Says Citrix (CTXS) Won't Be Harmed Following Oracle, VMware Deals; Shares Edge Off Lows
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Get Alerts CTXS Hot Sheet
Price: $63.43 -0.35%
Rating Summary:
18 Buy, 8 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
18 Buy, 8 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade CTXS Now!
Shares of Citrix (Nasdaq: CTXS) seem to be bouncing off session lows below $72 as a note from Bernstein's Mark Moerdler is making the rounds. The stock is still down by more than 6 percent from Friday's close, but shares are up by nearly 2 percent over the last half hour of trade.
Traders in the IT space are selling Citrix shares on the heels of Oracle's (Nasdaq: ORCL) acquisition of Xsigo Systems, announced this morning, and VMware's (NYSE: VMW) $1.05 billion purchase of Nicira on Monday of last week. Moerdler, however, believes Citrix will be unaffected by the deals. He noted Citrix's Netscaler product operates in a different part of the market. On the other hand, the Bernstein analyst said the deals could eventually lead to a closer partnership between Citrix and Cisco (Nasdaq: CSCO).
Moerdler maintains an Outperform rating on Citrix, and Market Perform ratings on both Oracle and VMware.
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Traders in the IT space are selling Citrix shares on the heels of Oracle's (Nasdaq: ORCL) acquisition of Xsigo Systems, announced this morning, and VMware's (NYSE: VMW) $1.05 billion purchase of Nicira on Monday of last week. Moerdler, however, believes Citrix will be unaffected by the deals. He noted Citrix's Netscaler product operates in a different part of the market. On the other hand, the Bernstein analyst said the deals could eventually lead to a closer partnership between Citrix and Cisco (Nasdaq: CSCO).
Moerdler maintains an Outperform rating on Citrix, and Market Perform ratings on both Oracle and VMware.
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