BofA/Merrill Lynch Downgrades Red Hat (RHT) to Underperform

October 24, 2017 6:37 AM EDT
Get Alerts RHT Hot Sheet
Price: $187.71 --0%

Rating Summary:
    16 Buy, 24 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 17 | Down: 14 | New: 42
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BofA/Merrill Lynch downgraded Red Hat (NYSE: RHT) from Neutral to Underperform with a price target of $115.00.

Analyst Kash Rangan cites valuation for the downgrade noting total billings growth ratio has been 1x on average for the past 7 years. The analyst still likes the LT vision but fears margin leverage will like be muted in the near-to-mid term as the company undergoes investment.

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 $122.13 yesterday.

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