Morgan Stanley Peers Through The Clouds To Uncover Solid Fundamentals For Red Hat Inc

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

. In the report, Morgan Stanley noted, “An accelerating RHEL cloud business and building traction in JBoss and emerging solutions, marked another solid quarter for RHT. While FX volatility and a ramping cloud business bite into billings growth, we believe patient investors will be rewarded for looking thru these transitory factors.” Red Hat Inc closed on Thursday at $60.66.