UPDATE: Morgan Stanley Reiterates on Red Hat on Positive Risk/Reward
In a report published Friday, Morgan Stanley analyst Keith Weiss reiterated an Overweight rating on Red Hat (NYSE: RHT), but removed the $69.00 price target.
In the report, Morgan Stanley noted, “Our work continues to suggest a positive risk/reward for RHT moving into FY15, with the stock still trading well below longer-term averages. Partner conversations indicate sustained growth in RHEL with newer offerings gaining momentum, a dynamic we believe should drive accelerating growth, a key catalyst for the stock.”
Red Hat closed on Thursday at $58.47.
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