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In a report published Thursday, JG Capital analyst Jeff Gaggins upgraded Citrix (NASDAQ: CTXS) to a rating of Overweight, and raised the price target to $81.
In the report, JG Capital observed, “CTXS reported solid results last night driven by strength in NetScaler, which grew 46% y/y with 54% y/y growth in NetScaler license revs. Total license revs grew 21% y/y though desktop lic revs grew only 2% y/y, below guidance of 10% y/y. We believe the desktop business is still dealing with a shelf-ware issue, but we think that should normalize in 2014. We upgraded CTXS from a Neutral to Overweight yesterday.
Citrix closed on Wednesday at $67.49.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.