Deceleration For CTXS, Price Target Raised

Citigroup has issued a research report for Citrix Systems

and forecasts deceleration trends. In the report, Citigroup writes "We noted an expected downtick from some of the larger partners following an aggressive “trade-up” push last quarter. This may disappoint some who have looked for continued sequential growth in XenDesktop bookings (a metric we view as essentially meaningless anyway). The direct and SI-associated business remains difficult to gauge, but is likely strong as the company has up-ticked its investment in these areas in 2010. ANG and online trends continue to hold in relatively strong." Citigroup maintains its Hold rating and has raised the price target from $49 to $60. Citrix Systems closed yesterday at $60.46.