Morgan Stanley Sees Solid 1Q Coming Together For Red Hat

In a report published Thursday, Morgan Stanley analyst Keith Weiss reiterated an Overweight rating and $69.00 price target on

. In the report, Morgan Stanley noted, “Q1 marks RHT's 3rd straight quarter of high teens billings growth or better, with a stable RHEL business and improved cross selling of emerging products driving sustainability of this growth profile. With greater customer adoption of a broader portfolio driving larger deals, we are buyers of RHT.” Red Hat closed on Wednesday at $53.10.