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Fly News Breaks for June 22, 2018
RHT
Jun 22, 2018 | 07:05 EDT
Deutsche Bank analyst Karl Keirstead lowered his price target for Red Hat to $170 saying the company last night posted "surprisingly soft" Q1 numbers and Q2 guidance. While Red Hat occasionally posts weak billings followed by a snap-back quarter, this felt different as the more steady subscription revenue growth rate also slowed, Keirstead tells investors in a post-earnings research note. The analyst, however, believes, the quarter does not "seriously damage several pillars of the bull case." He maintains a Buy rating on Red Hat.
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