Piper Jaffray: More Clients Using Red Hat Than Microsoft's Windows (RHT, MSFT)

Piper Jaffray did a survey of 45 businesses, and it showed that these businesses are using Red Hat (NYSE: RHT) more than Microsoft's (NASDAQ: MSFT) Windows. As such, it rates Red Hat at Overweight, and has a $45 price target, up from $40.In a note to clients, Piper Jaffray writes, "Our survey of 45 RHT partners reveals that customers are more frequently using Red Hat in place of Microsoft Windows. Essentially half of the surveyed partners, including some of the largest OEMs, indicate their customers are increasingly using Red Hat for what would have otherwise been Windows Server workloads. This behavior has increased materially in recent years, suggesting Red Hat will face a much larger addressable market opportunity, as the Windows Server market is more than twice the size of the Unix market. Reiterate Overweight and raise target to $40."Shares of Red Hat gained $1.10, good for a gain of 3.18%, to close at $35.65.See Some of the Top Moving Indexes Here.