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UPDATE: Stifel Nicolaus Lowers PT to $83 on Citrix Systems on Weak Quarterly Print

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Earnings Outlook For Citrix Systems
Earnings Scheduled For July 25, 2018
Citrix Systems: Cloud Power (Seeking Alpha)

Stifel Nicolaus reiterated its Buy rating on Citrix Systems (NASDAQ: CTXS) but lowered its price target from $85 to $83.

Stifel Nicolaus commented, "We arrive at our $83 target price by applying a 23.5x multiple to our CY13 NOPAT estimate of $3.12 (EPS of $3.19) and then adding the roughly $10 per share in cash (discounted) we expect the company to deliver in CY13. This multiple is below Citrix's historical average and in-line with infrastructure peers. We believe the multiple is warranted given the potential for upside to numbers stemming from accelerating revenue growth within the desktop and network businesses, the benefit the company should realize from recent product introductions, and expanding productivity from investments in distribution."

Citrix Systems closed at $64.08 on Wednesday.

Latest Ratings for CTXS

DateFirmActionFromTo
Sep 2018BarclaysMaintainsEqual-WeightEqual-Weight
Jul 2018Morgan StanleyMaintainsUnderweightUnderweight
Jul 2018Stifel NicolausMaintainsHoldHold

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Posted-In: Stifel NicolausAnalyst Color Price Target Intraday Update Analyst Ratings

 

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