UPDATE: Stifel Nicolaus Lowers PT on Red Hat to $42

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Stifel Nicolaus is out with its report today on Red Hat
RHT
, lowering its PT to $42 from $49. In its report, Stifel Nicolaus writes, "We have lowered our price target to reflect the impact we think the slower economic recovery will have on Red Hat's business. Our revised 12-month target price is $42 and is based on - 1) applying a 6.8x EV/Revenue to our revised FY12 revenue estimates, a premium to the peer group at 3.1x; 2) applying a 40.0x to our FY12 EPS estimates, a premium to the peer group at 17.5x; and 3) applying a 28.0x to our FY12 FCF/share estimates, a premium to the peer group at 14.3x." At the time of posting, shares of RHT were trading at $32.35, up 0.28% from Monday's close.
Posted In: Analyst ColorPrice TargetAnalyst RatingsInformation TechnologyStifel NicolausSystems Software
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