UPDATE: Goldman Sachs Raises Citrix Systems' PT

According to a research report published his morning, Goldman Sachs has increased Citrix Systems'

PT from $75 to $85. Goldman Sachs commented in the report, "CTXS reported 1Q2012 results after the close. Both revenue and EPS came in above the Street with the top-line upside driven primarily by maintenance and a slower-than-expected ramp in hiring leading to material outperformance in operating margins (23.5% vs. the Street: 21.6%). Deferreds also came in better than expected; growing 2% qoq vs. consensus of flat sequential growth. As a result, bookings growth was 24% yoy, marking the highest growth since June 2010. Management commented that bookings growth should outpace revenue in 2012, implying potential for slight acceleration from the 17% increase in 2011." Goldman Sachs maintains its Neutral rating on Citrix Systems, which closed yesterday at $77.17.