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Fly News Breaks for July 11, 2017
CTXS
Jul 11, 2017 | 06:31 EDT
Citi analyst Walter Pritchard believes the "sudden" departure of Citrix Systems CEO Kirill Tatarinov suggests a high chance of some disagreement with the board in terms of a potential sale of the company or a growth versus margin tradeoff. The language in last night's press release indicates that post Tatarinov, Citrix will be more focused on margins and capital return. It is unlikely that Tatarinov's departure signals a sale of company is not happening, Pritchard tells investors in a research note. The analyst keeps a Buy rating on the shares with a $94 price target.
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