UBS Raises Estimates on Citrix Systems (CTXS) for Bytemobile Acquisition; License Revenues May Remain Light

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UBS maintains a 'Neutral' on Citrix Systems (NASDAQ: CTXS) price target of $83.00 (from $82.00).

Analyst, Brent Thill, said noted that the company reported a 'beat and raise' quarter, however, CTXS's license revenues were light (+9.7% year-over-year) vs. UBS estimate of 12%. Thill doesn't expect the environment to improve anytime soon either.

As for guidance, Thill (factoring in Bytemobile acquisition) raises FY12 EPS from $2.79 to $2.81 and revenues from $2.54B to $2.57B. For FY13, he bumps EPS estimate from $3.13 to $3.15 and revenues from $2.91B to $2.86B.

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 $75.11 yesterday, with a 52 week range of $50.21-$87.99.

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