J.P. Morgan Reiterates Neutral Rating, $56 PT on Citrix Systems on Fair Valuation

In a report published Thursday, J.P. Morgan analyst John DiFucci reiterated a Neutral rating and $56.00 price target on

. In the report, J.P. Morgan noted, “We rate shares of CTXS Neutral. Although we continue to believe Citrix faces structural challenges in its core Mobile and Desktop segment – a unit that accounts for more than half of the company's revenue and even more of the company's profit – shares look fairly valued at current levels. We estimate a Base Value for CTXS of $52.63, which we define as the value of its recurring revenue alone.” Citrix Systems closed on Wednesday at $56.07.