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

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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, with a 52 week range of $56.57-$87.99.

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