UPDATE: Morgan Keegan Lowers Price Target on Citrix Systems to $80

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According to Morgan Keegan, Citrix Systems
CTXS
price target is lowered to $80. Morgan Keegan said that CTXS announced 4Q11 results with EPS of $0.78 and $619.4 million in revenue (+17% Y/Y), compared to the consensus expectation for EPS of $0.76 and $618.8 million in revenue. “Overall, 4Q11 performance gives increasing evidence of the company's solid positioning to capture growth from emerging secular trends around mobility, device proliferation, cloud and collaboration. Based on strength of fundamentals, solid execution and emerging virtual desktop opportunity, we reiterate our Outperform rating.” Citrix Systems closed yesterday at $67.61.
Posted In: Analyst ColorPrice TargetAnalyst RatingsMorgan Keegan
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