Wells Fargo Starts Red Hat (RHT) at Outperform; Expanded Market Opportunity Offers Multi-Year Secular Growth
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Price: $187.71 --0%
Rating Summary:
16 Buy, 24 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
Rating Summary:
16 Buy, 24 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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Wells Fargo initiates coverage on Red Hat (NYSE: RHT) with an Outperform. PT range $45-$50.
Wells analyst says, "RedHat has evolved over the years from providing OS software into a broad-based provider 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 RedHat 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."
For more ratings news on Red Hat click here and for the rating history of Red Hat click here.
Shares of Red Hat closed at $37.86 yesterday.
Wells analyst says, "RedHat has evolved over the years from providing OS software into a broad-based provider 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 RedHat 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."
For more ratings news on Red Hat click here and for the rating history of Red Hat click here.
Shares of Red Hat closed at $37.86 yesterday.
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