Jefferies analyst John DiFucci raised his price target for Citrix Systems to $76 from $60 following last night's Q1 results and keeps an Underperform rating on the name. The results were confusing on the top line given ASC 606 accounting, and when parsed out, the quarter "doesn't look as good as it does at first," DiFucci tells investors in a post-earnings research note. He believes Citrix is "optimistically" valued at current levels. The company trades above what the analyst calculates as its base value of about $76, assuming the lower U.S. cash tax rate, which he defines as the value of its recurring revenue alone.