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Fly News Breaks for June 6, 2019
CTXS
Jun 6, 2019 | 07:51 EDT
Deutsche Bank analyst Karl Keirstead upgraded Citrix Systems to Buy from Hold and raised his price target for the shares to $120 from $110. The analyst sees strength in the company's desktop business. The unit grew 13% in Q1 and growth is projected at 5%-9% going forward despite the "weight of an ongoing transition to a subscription and cloud model," Keirstead tells investors in a research note. He believes this growth is "under the radar" given Citrix's current low valuation.
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