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Fly News Breaks for August 12, 2015
CTXS
Aug 12, 2015 | 08:18 EDT
Bernstein analyst Mark Moerdler estimates shares of Citrix Systems could be worth $99 with a spin-off of the GoTo business and divestiture of the delivery network. He values the GoTo businesses at $3.3B and the NetScaler businesses at $2.4B-$2.5B. Under this scenario, the remaining core Citrix business would be worth $74 per share, Moerdler writes this morning in a research note. He keeps an Outperform rating on the stock with a $96 price target. Shares of Citrix closed yesterday down 93c to $75.20.
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