Piper Jaffray Comments On Red Hat Survey

According to Piper Jaffray, 46 key Red Hat

partners were surveyed to assess the early impact of Attachmate's proposed acquisition of Novell. Piper Jaffray reported that 44% indicate that businesses will spend more on Red Hat due to uncertainty surrounding Novell's future as part of Attachmate, while only 4% expect the opposite. “Contacts cite the "turmoil" and "uncertainty" of the Novell acquisition as it "leaves Red Hat as the only public, US-based company primarily focused on open source, which will truly set them apart as the only go-to vendor in the space." Fundamentals remain very strong for RHT, in our view. Reiterate Overweight, $57 target.” Red Hat closed yesterday at $45.11.