Jefferies Upgrades Citrix Systems (CTXS) to Buy on 3 Catalysts

April 21, 2021 1:39 AM EDT
Get Alerts CTXS Hot Sheet
Price: $119.27 -0.02%

Rating Summary:
    17 Buy, 18 Hold, 2 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 26 | Down: 19 | New: 40
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(Updated - April 21, 2021 7:57 AM EDT)

Jefferies analyst Brent Thill upgraded Citrix Systems (NASDAQ: CTXS) from Hold to Buy with a price target of $180.00 (from $150.00).

The analyst cited three catalysts:

1) work-from-anywhere is here to stay which is a powerful shift to capitalize on;

2) Street's +4% CY21rev growth is too low; we see high single-digit growth potential supported by a proprietary survey + have increased confidence in the CY22 $10 FCF/share goal;

3) CTXS trades toward the bottom-end of its 13-18x FCF range; we see room for expansion (ORCL/VMWat 19x/18x, ADBE/ADSK at 34x/29x).

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 $138.12 yesterday.


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