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Fly News Breaks for June 21, 2017
RHT
Jun 21, 2017 | 08:22 EDT
Pacific Crest analyst Ben McFadden says that Red Hat's Q1 results showed "compelling strength across categories." The analyst notes that the company closed seven deals over $5M, and he says the deals show that its strategy is working. McFadden is now more confident that the company "can achieve beyond mid-teens-plus growth for many years to come." He raised his price target on the stock to $115 from $97 and keeps an Overweight rating on the shares.
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