UPDATE: Stifel Nicolaus Resumes Buy on Citrix Systems; Desktop Virtualization Going Mainstream

Stifel Nicolaus resumes its coverage on Citrix Systems CTXS with a Buy rating and establishes a price target of $100 on shares on the company's positioning in the VDI space. Stifel Nicolaus comments, "Desktop virtualization is set to go mainstream. We believe we are in the earliest stages of XenDesktop's growth story. Despite capturing over 50% of the VDI market, we estimate less than 10% of desktops are virtualized and expect this number to jump as corporations look to reduce costs and improve manageability, security, and employee mobility. We still believe there is life left for application virtualization (XenApp) and note growing VDI adoption also results in a pull-thru to Citrix's NetScaler products (networking optimization appliance)." CTXS closed at $87.24 on Thursday.