Wells Fargo Maintains an 'Outperform' on Red Hat (RHT); Raising Numbers on Strong Outlook
Tweet Send to a FriendGet Alerts RHT Hot Sheet
Price: $46.22 -0.88%
Rating Summary:
12 Buy, 13 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 0 | Down: 2 | New: 2
Rating Summary:
12 Buy, 13 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 0 | Down: 2 | New: 2
Trade RHT Now!
Wells Fargo maintains an 'Outperform' on Red Hat (NYSE: RHT) price target range raised from $50-55 to $65-$70.
Wells analyst said, "Red Hat has evolved over the years from providing OS software into a broad-based provider of infrastructure stack solutions. Red Hat's primary growth strategy is to take share from entrenched competitors--it is not necessary to move into applications, databases or other software segments to find customer IT spend. We believe Red Hat is well positioned to benefit from a multi-year secular growth phase by increasing its product footprint in its installed base, and expanding into virtualization, middleware and cloud computing."
"We are raising our FY2013E revenue to $1.36B (from $1.33B)and EPS to $1.20 (from $1.14)...Introducing FY2014E of revenue of $1.61B and EPS of $1.46.
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
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Wells analyst said, "Red Hat has evolved over the years from providing OS software into a broad-based provider of infrastructure stack solutions. Red Hat's primary growth strategy is to take share from entrenched competitors--it is not necessary to move into applications, databases or other software segments to find customer IT spend. We believe Red Hat is well positioned to benefit from a multi-year secular growth phase by increasing its product footprint in its installed base, and expanding into virtualization, middleware and cloud computing."
"We are raising our FY2013E revenue to $1.36B (from $1.33B)and EPS to $1.20 (from $1.14)...Introducing FY2014E of revenue of $1.61B and EPS of $1.46.
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
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: BofA/Merrill Lynch Upgrades Adobe (ADBE) to Buy
- AcelRx (ACRX) Target Lifted at Jefferies
- UPDATE: Raymond James Downgrades Gevo, Inc. (GEVO) to Market Perform
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
Wells Fargo
Login with Facebook
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!
