UPDATE: BMO Capital Markets Initiates On Citrix Systems On Position Of Mobile Trend
In a report published Wednesday, BMO Capital Markets analyst Joel Fishbein initiated a Market Perform rating on Citrix Systems (NASDAQ: CTXS) and set the price target to $65.00.
In the report, BMO Capital Markets says "We are initiating coverage of Citrix with a Market Perform rating, as we believe the shares are fairly valued at current levels. Execution improvements needed to drive shares higher don't appear immediately apparent, and we are concerned about the potential for a reset of 2014 estimates. We believe strong recurring revenue and sticky customer relationships provide limited downside to shares at current levels."
Citrix closed on Wednesday at $60.00.
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