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Morgan Stanley Feels More Positive on Red Hat Following Solid Q3 Earnings Report

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In a report published Friday, Morgan Stanley analyst Keith Weiss reiterated an Equal-Weight rating on Red Hat (NYSE: RHT).

In the report, Morgan Stanley noted, “Better middleware performance and a stable RHEL business drove normalized billings growth back to the high teens in Q3. Perhaps more interestingly, mgmt noted ramping growth in public cloud deployments and initial deals around OpenStack. If sustained, this traction in RHT's newer cloud initiative may prove forward estimates and multiples too low.”

Red Hat closed on Thursday at $49.00.

Latest Ratings for RHT

DateFirmActionFromTo
Jul 2019SuspendsNot Rated
Jun 2019DowngradesOutperformMarket Perform
Nov 2018DowngradesOverweightSector Weight

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Posted-In: Keith Weiss Morgan StanleyAnalyst Color Reiteration Analyst Ratings

 

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