Jefferies Starts Red Hat (RHT) at Buy; Three Products Equals Hat-Trick

Jefferies initiates coverage on Red Hat (NYSE: RHT) with a Buy. PT $67.00.

Analyst, Ross MacMillan, said, "RHT is the industry's leading open source software provider and is gradually diversifying from its core Linux roots into middleware, storage and cloud related technologies. The pricing, development and support model is attractive to customers, plus open source software is the building block for next generation data centers. We think growth prospects are good and valuation is reasonable given the expanding TAM."

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 $57.32 yesterday.

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