BMO Capital analyst Keith Bachman raised his price target on Red Hat to $192, saying the company's Enterprise Linux system growth rate of low-to-mid teens is sustainable for the next few years based on the favorable adoption trends in the server market. Bachman adds that the company can also continue to generate revenue in the public cloud but at a "substantially lower share levels". Longer term, the analyst expects billings growth to decelerate from 21% this year to 16%-17% in the coming years, while questions around Red Hat's billings growth keep the stock rangebound. Bachman keeps his Market Perform rating.