Drexel Hamilton Reiterates a 'Buy' on Red Hat (RHT); Raising PT, But One Area of Concern
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Price: $51.86 --0%
Rating Summary:
12 Buy, 12 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 6 | Down: 12 | New: 8
Rating Summary:
12 Buy, 12 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 6 | Down: 12 | New: 8
Trade RHT Now!
Drexel Hamilton reiterates a 'Buy' on Red Hat (NYSE: RHT) price target raised from $52 to $65.
Analyst, James Gilman, said, "After market close yesterday Red Hat reported F4Q12 results, which handedly beat estimates and management’s previously issued guidance...Management guided F1Q13 and FY13 above prior consensus estimates...The one area concern could the 150 bps operating margin contraction due to planned aggressive investments in personnel and infrastructure."
"However, we believe the size of the investments point to management’s confidence in the company’s future revenue opportunity. We increase our price target based on a relative valuation. "
For an analyst ratings summary and ratings history on Red Hat click here. For more ratings news on Red Hat click here.
Shares of Red Hat closed at $51.39 yesterday, with a 52 week range of $31.77-$54.01.
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Analyst, James Gilman, said, "After market close yesterday Red Hat reported F4Q12 results, which handedly beat estimates and management’s previously issued guidance...Management guided F1Q13 and FY13 above prior consensus estimates...The one area concern could the 150 bps operating margin contraction due to planned aggressive investments in personnel and infrastructure."
"However, we believe the size of the investments point to management’s confidence in the company’s future revenue opportunity. We increase our price target based on a relative valuation. "
For an analyst ratings summary and ratings history on Red Hat click here. For more ratings news on Red Hat click here.
Shares of Red Hat closed at $51.39 yesterday, with a 52 week range of $31.77-$54.01.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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