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Fly News Breaks for March 24, 2015
RHT
Mar 24, 2015 | 07:42 EDT
MKM Partners said with Red Hat shares up 7% in the last two weeks, expectations appear high into the Wednesday's Q4 earnings report. The firm said Q4 comps are tough but could be aided by longer-term contracts, as in Q3. MKM Partners said Red Hat faces difficult comps throughout 2016 and at some point, the market will penalize growth from term length extensions. The firm maintains its Neutral rating and $70 price target and said valuation is discounting a billings growth rate that will be difficult to exceed.
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