JPMorgan Downgrades Red Hat (RHT) to Neutral

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.

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 $144.37 yesterday.

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