Citrix Continues To Rise After Multiple Wall Street Firms Upgrade Stock
Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.
Citrix Systems, Inc. (NASDAQ: CTXS) traded up on Thursday, and shares have risen nearly 3 percent on Friday morning. The catalyst behind the rally is a letter sent to the Board of Directors by Elliott Management indicating the stock could $90-1$100 if the proper measure were taken.
On Friday, a host of analysts commented on the stock. Piper Jaffray upgraded the stock and placed a $92 takeout value on shares, while Bank of America's upgrade contains a slightly less bullish $82 target.
Credit Suisse, in particular, said "but wait, there's more" when describing Citrix. The firm boosted its price target to $85 per share and said the company "will be compelled to make more organizational changes than already announced."
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