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Fly News Breaks for September 20, 2018
RHT
Sep 20, 2018 | 07:39 EDT
RBC Capital analyst Matthew Hedberg kept his Outperform rating and $169 price target on Red Hat after its Q2 results, saying the company produced a "solid quarter against negative sentiment" with outperformance in billings, operating margins, and earnings in spite of fewer renewals. The analyst notes that he remains confident in Red Hat's long-term opportunity, even though the company is facing short-term headwinds in middleware and portfolio renewals that is partially mitigated by cross-selling strength and large deals count.
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