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Fly News Breaks for March 23, 2018
RHT
Mar 23, 2018 | 08:46 EDT
BMO Capital analyst Keith Bachman raised his price target on Red Hat to $172 and kept his Market Perform rating. Bachman notes that the company is poised for another "very strong" quarter of earnings and around 20% of constant currency revenue growth, while benefiting from incremental FX tailwinds. The analyst also cites positive feedback across the company's segments, including the durability and operational flexibility of the Red Hat Enterprise Linux operating system, as well as the positive praise given to OpenShift. Bachman attributes his Neutral stance to to expectations of decelerating billings growth from 19% in FY17 to a range of 16%-17% over the next few years.
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