JPMorgan Downgrades Red Hat (RHT) to Neutral
- Wall Street surges to all-time closing high on earnings, economic revival
- Was Intel's (INTC) Second Quarter a Speedbump or Inflection?
- Twitter (TWTR) Gains After Beating Q2 Estimates, Analysts Raise PTs as Brand Recovery Accelerates
- U.S. dollar on track for second week of gains; Fed meeting in focus
- Snap (SNAP) Surges 17% After Smashing Q2 Views Across the Board to Yield a Dozen Price Target Hikes
Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
JPMorgan analyst Mark Murphy downgraded Red Hat (NYSE: RHT) from Overweight to Neutral with a price target of $150.00 (from $160.00).
The analyst steps aside citing a belief that the equity will trade between $120 and $180 until headwinds normalize. Over the LT he remains positive on the company's positioning and believes a better renewals setup and a mix shift toward OpenShift could reinvigorate investors.
Shares of Red Hat closed at $144.37 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Insurance Australia Group Ltd. (IAG:AU) (IAUGD) PT Lowered to AUD5.41 at Goldman Sachs
- Mphasis Ltd. (MPHL:IN) PT Raised to INR2,540 at Goldman Sachs
- AP Moller Maersk (MAERSKB:DC) (AMKBY) PT Raised to DKK18,500 at Goldman Sachs
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Downgrades
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!