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Fly News Breaks for October 15, 2015
CTXS
Oct 15, 2015 | 10:45 EDT
Piper Jaffray analyst Katherine Egbert sees a "high probability" of Citrix Systems getting sold or broken up in the "near future" given Elliott Management's involvement and the formation of an Operations Committee. The analyst thinks Citrix could be worth $68-$82 per share in a breakup and $92 per share in a takeover. She believes, though, that further steps to unlock shareholder value have largely been priced into the stock at current levels. Egbert keeps a Neutral rating on Citrix with a $75 price target. The virtualization and cloud infrastructure provider is up $1.06 to $74.62 in morning trading.
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