Shares of the Fort Lauderdale, Fla., company at last check rose 4% to $143.69. The stock was the best performer among its peers, according to Bloomberg.
Jefferies analyst Brent Thill also raised his price target on the stock to $180 from $150. The new target indicates 30% potential upside from Tuesday’s closing price at $138.12.
The consensus analyst price target is $156.54, Bloomberg data show.
Thill wrote that a “Jefferies survey indicates that organizations expect to convert 75% of limited-use-term Citrix licenses to longer-term contracts, which may support high-single-digit revenue growth potential in calendar year 2021.”
Jefferies also raised its subscription-revenue estimate for Citrix by 6% to 9% to between $1.75 billion and…