UPDATE: FBN Securities Initiates Citrix Systems at Outperform on Growth Outlook
FBN Securities initiated coverage on Citrix Systems (NASDAQ: CTXS) with an Outperform rating and a $85.00 price target.
FBN Securities analyst Shebly Seyrafi commented, "CTXS is a key player in virtual desktop infrastructure (VDI) and cloud, two key technology trends. Although its Mobile & Desktop (M&D) segment growth has been hampered by declines in its application virtualization solution XenApp (XA), we believe that its fast-growing XenDesktop (XD) VDI solution is now a larger revenue contributor (~60% of M&D license) and should drive acceleration in this segment. We see XD license growth accelerating, especially in FQ2 2013, as the compares get easier."
Citrix Systems closed at $71.30 on Tuesday.
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