NEW YORK (TheStreet) --Shares of Citrix Systems (CTXS) are gaining by 1.97% to $71.78 at the start of trading on Friday morning, after the company received a pair of ratings upgrades at Bank of America/Merrill Lynch and Piper Jaffray.
Bank of America/Merrill Lynch upgraded its rating on the cloud computing company to "buy" from "neutral." The firm said it upgraded Citrix as it believes the company's cost-cutting and asset sales should help improve shareholder value.
Piper Jaffray upgraded Citrix to "neutral" from "underweight" based on its belief that activist investing will help to improve shareholder value.
Bank of America/Merrill Lynch has an $82 price target on Citrix. Piper Jaffray has a $75 price target on the stock.
Separately, TheStreet Ratings team rates CITRIX SYSTEMS INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate CITRIX SYSTEMS INC (CTXS) a HOLD. The primary factors that have impacted our rating are mixed-some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including deteriorating net income and feeble growth in the company's earnings per share."
Highlights from the analysis by TheStreet Ratings Team goes as follows: