Citrix Systems Inc. (Nasdaq: CTXS) charged ahead 6 percent Monday after the company got a "buy" rating based on its expasion into UNIX and wireless applications.
Shares were up 4 1/16 to 81 11/16. The stock has been rising since Citrix topped estimates in its fourth quarter.
PaineWebber said it started coverage on the stock as a "buy" and set a price target of $115 a share. It also added the company to its "highlighted stocks" list.
PaineWebber said Citrix it is expanding beyond its Windows-based stronghold to UNIX applications and wireless clients.
The recent pull-back in shares gives investors an attractive entry point at a price-earnings ratio less than twice the company's growth rate, the investment firm added.
Citrix competes with Sterling Software (NYSE: SSW), Sun Microsystems (Nasdaq: SUNW) and Santa Cruz Operation (Nasdaq: SCOC).