CTXS Citrix Systems Inc

We upgrade our recommendation on Citrix Systems (CTXS) to Outperform backed by its excellent performance in first-quarter 2011. The company is growing gradually as virtualization and cloud computing becomes essential for large enterprises to reduce costs when the economy begins to recover from recession.

As a leading provider of enterprise software with desktop virtualization at its core, Citrix will benefit from the increasing trend of globalization. Management raised its financial forecast for full fiscal 2011. We believe the virtualization market will flourish in the near future with desktop virtualization as its central point.

The company's major products such as XenDesktop, NetScaler and Online Collaboration are generating huge revenue. As enterprises throughout the world are rapidly moving into virtualized environment, Citrix is witnessing massive demand for either new licensing or system upgrade contract.
 
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