Deutsche Bank Downgrades Software Providers CTXS, WBSN and SPRT
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Deutsche Bank downgrades Citrix (Nasdaq: CTXS), Websense (Nasdaq: WBSN) and SupportSoft (Nasdaq: SPRT)
Deutsche analyst says, "We prefer McAfee (NYSE: MFE) and Check Point (Nasdaq: CHKP) and are moving to the sidelines on Citrix, Websense and SupportSoft. For Citrix, we move from Buy to Hold due to our concerns on the overall spending environment, concerns about virtualization momentum and due to a valuation premium relative to the rest of the group. For Websense, we believe their business fundamentals are solid, however its current valuation seems to be pricing in much of the potential billings upside that could occur over the next 12 months. For SupportSoft, we are moving to the sidelines based on concerns around consumer spending and competition in the consumer support services segment."
SupportSoft, Inc. (SupportSoft) provides software and services designed to make technology work.
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