Citrix Systems (CTXS): Checks indicate a strong quarter that is ahead of plan - RBC Capital

From Notable Calls

RBC Capital is out with a good call on Citrix Systems (NASDAQ: CTXS) saying their checks indicate a strong quarter that is ahead of plan, driven by all segments that are building backlog going into Q1. Overall, they are hearing strong deal flow for Presentation Server (with continued Platinum adoption), strong NetScaler business, and implementations of Xen Desktop. Specifically, they have uncovered a few large NetScaler deals in EMEA with large internet companies, and one sizable transaction with a US-based financial institution.

Regionally, checks in EMEA have come back with confidence in achieving revenue ahead of plan with strong UK contribution, while the US is also slightly ahead with large deals in financial institutions. Bottom line, RBC believes there is a strong possibility of upside to Street estimates of $380.2M/$0.43 (RBC estimates $378.3M/$0.42) and managements guidance of $374M-$382M/$0.42-$0.43.

Reits Outperform and $51 tgt.

Notablecalls: This call is bound to generate sizable interest in CTXS today and in the coming days. RBC's Robert Breza has done a wonderful job here! Would not be surprised to see a $1-$2 movement.

For more calls go to http://notablecalls.blogspot.com/

You May Also Be Interested In

• Jefferies Downgrades Pop Mart International Group Ltd (9992:HK) to Hold
• NetEase.com (NTES) PT Raised to $168 at Goldman Sachs
• Hims and Hers (HIMS) PT Lowered to $35 at Barclays