Jefferies Upgrades Citrix Systems (CTXS) to Buy Following Positive Field Work

January 9, 2013 7:18 AM EST
Get Alerts CTXS Hot Sheet
Price: $92.99 +0.39%

Rating Summary:
    16 Buy, 21 Hold, 4 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Jefferies upgraded Citrix Systems (NASDAQ: CTXS) from Hold to Buy with a price target of $80.00 (from $70.00).

The firm cited: i) Our most recent field work confirming that app/ desktop virtualization projects remain a priority; ii) Undemanding estimates; iii) An expansion of CTXS’ desktop business to a broader set of software, applications and enterprise mobility solutions; iv) Potential for better growth in the Data Center business; v) A more palatable valuation."

The firm raised Q4 EPS from $0.65 to $0.66 and FY12 from $3.07 to $3.15.

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 $68.46 yesterday.

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