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.
Latest Ratings for RHT
|Jul 2016||Morgan Stanley||Downgrades||Overweight||Equal Weight|
|Apr 2016||Pacific Crest||Upgrades||Sector Weight||Overweight|
|Mar 2016||Bank of America||Maintains||Neutral|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.