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Citrix Systems, Watson Pharmaceuticals: S&P Gainers

NEW YORK ( TheStreet) -- Citrix Systems (CTXS - Get Report) and Watson Pharmaceuticals (WPI) were among the best-performing stocks in the S&P 500 on Thursday.

The S&P 500 rose 9.29 points, or 0.67%, to 1,399.98 on Thursday.

Shares of Citrix Systems gained 12.43% to $86.76. On Thursday, the stock was upgraded to outperform by FBR Securities analysts with a $100 price target after a big earnings beat.

The company reported Wednesday after the close first-quarter earnings of 59 cents a share, excluding items, up from year-earlier earnings of 50 cents. On average, analysts expected earnings of 51 cents a share.

First quarter revenue grew 20% to $589 million.

Citrix Systems trades at an estimated price-to-earnings ratio for next year of 27.37X; the average for software companies is 30.58X. For comparison, Salesforce.com (CRM) has a higher forward P/E of 74.88X.

Twenty-three of the 35 analysts who cover Citrix rated it buy. Eleven analysts gave the stock a hold rating and one rated it sell.

TheStreet Ratings gives Citrix an A- grade with a buy rating and $90.32 price target. The stock has risen 42.89% year to date.

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