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Fly News Breaks for June 21, 2016
RHT
Jun 21, 2016 | 07:42 EDT
UBS said they like the short-term setup for Red Hat, citing its favorable comps, Q1 billings, and positive impact from foreign exchange. The firm said longer-term, however, the company's prospects can be more challenging, citing mixed underlying feedback on new products and the threat to its core business from the cloud. UBS maintained its Buy rating and $89 price target on Red Hat shares.
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