Jefferies Maintains Buy on Red Hat (RHT) into Q1 Despite Mixed Checks

Jefferies reiterated a Buy rating and $65 price target on Red Hat (NYSE: RHT) ahead of Q1 earnings results due on Wednesday, June 19, after the market close.

Analyst Ross MacMillan comments, "Our F1Q14 checks were mixed, with suggestions of uneven demand short-term but more optimism looking ahead. RHT's stock is reflecting some of this, although we acknowledge the magnitude of any deceleration ultimately matters. We continue to rate RHT Buy, given (i) Strong Linux market share gains; (ii) an ongoing Unix to Linux shift; (iii) RHEL usage in public cloud and (iv) strong JBoss trends."

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 $45.81 yesterday.

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