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Fly News Breaks for March 15, 2017
CTXS
Mar 15, 2017 | 08:15 EDT
As previously reported, BofA Merrill Lynch analyst Kash Rangan downgraded Citrix to Neutral from Buy, citing valuation, and raised his price target to $91 from $87. In terms of reports that the company is exploring a potential sale, he said he is "not sure how much more value either a strategic or private equity buyer could add" given its already steady margin expansion, but notes that valuations of recent private equity software M&A comps would imply a deal for Citrix at $95-$106 per share.
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