UPDATE: Jefferies Upgrades Citrix to Buy on Checks, Desktop Growth Potential

Jefferies upgraded Citrix Systems, Inc.

from Hold to Buy and raised the price target from $70.00 to $80.00. Jefferies commented, "Our upgrade is based on: 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." Citrix closed at $68.46 on Tuesday.