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UBS Maintains a 'Neutral' on Citrix Systems (CTXS); Raising PT & Estimates

April 26, 2012 1:06 PM EDT Send to a Friend
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Price: $67.73 -1.83%

Rating Summary:
    19 Buy, 14 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 26 | Down: 32 | New: 6
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UBS maintains a 'Neutral' on Citrix Systems (NASDAQ: CTXS) price target raised from $75 to $82.

Analyst, Brent Thill, said, "'Beat and raise' FQ1 at $589M/$0.59 vs. UBS/Street $563.5/$562.3M and $0.52/$0.51. Key demand metrics impressed, 1) license +19% y/y vs. UBS/Street +14%, 2) bookings +22% y/y vs. UBS/Street +14%/+12% and the strongest growth in over a year, 3) deferred +2.4% q/q vs.
seasonal +1.5%...CTXS enters FY12 with momentum but shares look fairly valued given OM leverage may prove elusive."

UBS raises FY12 EPS estimate from $2.73 to $2.78 and FY13 from $3.07 to $3.13.

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

Shares of Citrix Systems closed at $77.17 yesterday.




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