Wells Fargo Maintains an 'Outperform' on Red Hat (RHT); Raising Numbers on Strong Outlook
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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: 14 | New: 11
Rating Summary:
16 Buy, 24 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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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.
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.
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