UPDATE: Jefferies Color on Citrix Downgrade, PT Increase

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Jefferies, which
downgraded
shares of Citrix while raising its PT, is providing some color on the stock. “We are downgrading shares of Citrix
CTXS
to Underweight from Neutral because we believe current valuations assume overly optimistic market adoption rates of desktop virtualization technology, and specifically, of CTXS' XenDesktop,” Jefferies writes. “If our Base case market estimates prove accurate, we think the intrinsic value of CTXS shares is well below what is implied in the current share price.” Citrix closed Monday at $82.15.
Posted In: Analyst ColorAnalyst RatingsApplication SoftwarecitrixInformation TechnologyJefferies
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