Piper Jaffray Resumes Red Hat (RHT) at Overweight

Piper Jaffray resumes coverage on Red Hat (NYSE: RHT) with a Overweight rating and a price target of $68.00 (from $63.00).

Analyst Katherine Egbert said, "Red Hat is the leader in open source Linux and the emerging $2B opportunity for OpenStack cloud development tools is a significant new opportunity for the company. Q3:FY15 report is on tap for Wednesday 12/17 AMC. We expect upside to OCF and possibly billings."

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 $58.42 yesterday.

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