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In a report published Thursday, J.P. Morgan analyst John DiFucci reiterated a Neutral rating and $56.00 price target on
Citrix SystemsCTXS.
In the report, J.P. Morgan noted, “We rate shares of CTXS Neutral. Although we continue to believe Citrix faces structural challenges in its core Mobile and Desktop segment – a unit that accounts for more than half of the company's revenue and even more of the company's profit – shares look fairly valued at current levels. We estimate a Base Value for CTXS of $52.63, which we define as the value of its recurring revenue alone.”
Citrix Systems closed on Wednesday at $56.07.
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