UPDATE: Goldman Sachs Increases PT to $50 on Red Hat

Goldman Sachs raises its price target $2 to $50 on Hold-rated Red Hat

following F2Q12 results that beat expectations across the board. Goldman Sachs says, "RHT reported F4Q12 results beating expectations across the board. It was a good comeback for a company that had missed its billings number by a whisker last quarter and had seen the stock trade-off in the aftermarket. Expectations were high going into the quarter, but RHT delivered and stock was up ~9% in the aftermarket. Overall, the results indicate the secular trend of replacing expensive proprietary UNIX servers by commodity platforms continues, and RHT is well positioned to benefit from this trend." RHT closed at $51.39 a share yesterday.