UPDATE: Jefferies & Company Upgrades Citrix Systems to Buy, Raises PT

In a report published Wednesday, Jefferies & Company upgraded its rating on Citrix Systems

to Buy, and raised its price target from $70.00 to $80.00. Jefferies noted, “We upgrade CTXS to Buy and raise our PT from $70 to $80. Our upgrade is based on: i) Our most recent field work confirming that app/desktop virtualization projects remain a priority; ii) Undemanding estimates; iii) An expansion of CTXS' desktop business to a broader set of software, applications and enterprise mobility solutions; iv) Potential for better growth in the Data Center business; v) A more palatable valuation.” Citrix Systems closed on Tuesday at $68.46.