Zacks Investment Research upgraded shares of Citrix Systems Inc. (CTXS) from NEUTRAL to OUTPERFORM on July 20, 2012, with a target price of $99.00.
We upgrade our recommendation on Citrix Systems to Outperform ahead of its second quarter of 2012 financial results. We believe global trends toward virtualization and cloud computing will facilitate Citrix to report strong results. The company continues to grow as virtualization and cloud computing becomes essential for business enterprises to reduce costs when the economy is yet to completely come out of recession. As a leading provider of enterprise software with desktop virtualization at its core, the company will benefit from the current trend of globalization. We believe business fundamentals of Citrix remains intriguing as the virtualization market will continue to flourish in the near future. The company's major products, including XenDesktop, NetScaler, and Online Collaboration, are precipitously generating huge revenues. Management has provided a robust financial outlook for the rest of 2012.
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