News Update: Citrix Systems, Inc. (NASDAQ:CTXS) has been upgraded from Sell to Hold Thursday

Citigroup's Walter H. Pritchard, wrote: "Our Sell rating had been predicated on our belief that expectations around the desktop virtualization market were too far ahead of the reality. Primary data points continue to indicate this (ROI, narrow vertical traction, deployments stuck in pilot) however with the numbers showing acceleration, we don't believe our prior thesis will be proven over the next six months. Thus we are upgrading to Hold, target price to $49."

SmarTrend is bullish on shares of Citrix Systems and our subscribers were alerted to buy on July 08, 2010 at $44.89; the stock has risen 23.3% since the alert was issued.

Citrix Systems is currently above its 50-day moving average (MA) of $44.71 and above its 200-day of $43.58.

In the last five trading sessions, the 50-day MA has remained constant while the 200-day MA has risen 0.41%.

Shares of the technology solutions developer are trading up 17.24% Thursday afternoon at $55.49.

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