Mizuho Securities Reiterates Buy on Red Hat (RHT) Following 2Q Report
- Record-setting rally pushes on as S&P ends week up 3 percent
- Trump's Cohn Pick Most Bullish Sign Yet for Banks - Cowen
- Unusual 11 Mid-Day Movers: (IDXG) (INVN) (EBS) Higher; (SCON) (DTEA) (DLTH) Lower (more...)
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
Mizuho Securities reiterated a Buy rating and $88.00 price target on Red Hat (NYSE: RHT) following the company's 2Q earnings report. RHT reported total revenue of $600mm vs. consensus of $590mm with upside coming in from the subscription line as the company benefited from FX and customer audits.
Analyst Abhey Lamba commented, "Red Hat reported F2Q17 results that came in broadly above expectations but revenue upside was largely driven by FX and customer audits. That said, we point out a few items beyond headline metrics that warrant monitoring. Management raised its FY guidance which came in above consensus. We continue to favor the stock at current levels and see upside to estimates on potentially conservative guidance. We further note that the stock tends to outperform in seasonally strong F4Q. Reiterate Buy rating and $88 PT."
Shares of Red Hat closed at $77.04 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- MKM Partners Raises Price Target on Broadcom Ltd. (AVGO) to $207 Following 4Q Beat
- BMO Capital Cuts Price Target on Cooper Cos. (COO) Following 4Q Results
- Jefferies Raises Price Target on Finisar (FNSR) to $37 Following 2Q Beat and Raise
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!