Goldman Sachs Rates Red Hat (RHT) a Neutral
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Price: $187.71 --0%
Rating Summary:
16 Buy, 24 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 14 | New: 12
Rating Summary:
16 Buy, 24 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 14 | New: 12
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Goldman Sachs resumes coverage on Red Hat (NYSE: RHT) with a Neutral rating and $51 price target.
The firm notes Linux shipments are expected to outpace both Windows and UNIX in CY2011 and the acquisition of Novell by Attachmate in November 2010 could help Red Hat increase its market share. Also, Oracle (Nasdaq: ORCL) has had limited success with its Unbreakable Enterprise Kernel for Oracle Linux offering.
Red Hat has benefited as customers have embraced server virtualization and with the launch of Red Hat Enterprise Linux 6, a multi-year tailwind will emerge as clients migrate to higher priced virtualization-focused offerings.
On the valuation, Goldman says multiple expansion is unlikely near term.
For more ratings news on Red Hat click here and for the rating history of Red Hat click here.
Shares of Red Hat closed at $45.31 yesterday.
The firm notes Linux shipments are expected to outpace both Windows and UNIX in CY2011 and the acquisition of Novell by Attachmate in November 2010 could help Red Hat increase its market share. Also, Oracle (Nasdaq: ORCL) has had limited success with its Unbreakable Enterprise Kernel for Oracle Linux offering.
Red Hat has benefited as customers have embraced server virtualization and with the launch of Red Hat Enterprise Linux 6, a multi-year tailwind will emerge as clients migrate to higher priced virtualization-focused offerings.
On the valuation, Goldman says multiple expansion is unlikely near term.
For more ratings news on Red Hat click here and for the rating history of Red Hat click here.
Shares of Red Hat closed at $45.31 yesterday.
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