Citrix Systems upgraded to Buy from Hold at Jefferies Jefferies upgraded Citrix Systems citing its field work which indicated the company's Q4 business came in generally above plan. The firm also sees potential for desktop business growth and raised its price target for shares to $80 from $70.
Citrix reports restructuring program affecting 700 f/t, 200 p/t workers Citrix announced the implementation of a restructuring program designed to increase strategic focus and operational efficiency. The restructuring will affect approximately 700 full-time and 200 contractor positions, and is expected to result in annualized pre-tax savings in the range of approximately $90M-$100M. Citrix expects to incur pre-tax charges in the range of approximately $40M-$45M related to employee severance arrangements and $9M-$10M related to the consolidation of leased facilities during FY15.