UPDATE: JG Capital Upgrades Citrix on Solid 2Q13 Results

In a report published Thursday, JG Capital analyst Jeff Gaggins upgraded Citrix (NASDAQ: CTXS) to a rating of Overweight, and raised the price target to $81.

In the report, JG Capital observed, “CTXS reported solid results last night driven by strength in NetScaler, which grew 46% y/y with 54% y/y growth in NetScaler license revs. Total license revs grew 21% y/y though desktop lic revs grew only 2% y/y, below guidance of 10% y/y. We believe the desktop business is still dealing with a shelf-ware issue, but we think that should normalize in 2014. We upgraded CTXS from a Neutral to Overweight yesterday.

Citrix closed on Wednesday at $67.49.