Mizuho Securities Reiterates Buy Ahead of Red Hat's (RHT) 2Q Report
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Mizuho Securities reiterated a Buy rating and $88.00 price target on Red Hat (NYSE: RHT) ahead of the company's 2Q earnings report. Mizuho expects management to remain conservative with guidance and reiterate its current full-year revenue and EPS forecast of $2.380-2.420bn and $2.19-2.23, respectively.
Analyst Abhey Lamba commented, "Red Hat reports today after market close. For F2Q17, currency was largely in-line with guidance. For revenue, we expect $590-595mm (+17-18% Y/Y) vs. consensus of $590mm and guidance of $587-593mm. EPS is likely to come in-line to slightly better than consensus and guidance of $0.54, though we expect limited upside. We see upside to CFFO expectations of $127mm from better collections."
Shares of Red Hat closed at $75.78 yesterday.
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