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IBM

IBM

$124.77

-1.67 (-1.32%)

, RHT

Red Hat

$116.66

-3.85 (-3.19%)

14:15
10/28/18
10/28
14:15
10/28/18
14:15

IBM nears deal to acquire Red Hat, Bloomberg reports

IBM (IBM) is close to a deal to acquire software maker Red Hat (RHT), according to Bloomberg, citing people familiar with the matter. An agreement could be announced as early as Sunday, sources said. Reference Link

IBM

IBM

$124.77

-1.67 (-1.32%)

RHT

Red Hat

$116.66

-3.85 (-3.19%)

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IBM IBM
$124.77

-1.67 (-1.32%)

10/26/18
BNCH
10/26/18
NO CHANGE
Target $100
BNCH
Buy
Mellanox a 'prized' target for 'host of buyers,' says Benchmark
After CNBC reported that Mellanox (MLNX) has hired an advisor to explore strategic alternatives, including a possible sale, Benchmark analyst Gary Mobley said it is difficult to verify the story but he believes the company would "represent a prized M&A target for a host of buyers," including potentially Nvidia (NVDA), Intel (INTC), Broadcom (AVGO), Marvell (MRVL) and "even" IBM (IBM). The analyst, who added that Mellanox's "initial apathy" toward prior M&A talks with Marvell was part of the reason Starboard got involved, keeps a Buy rating on Mellanox shares with a $100 price target.
10/18/18
10/18/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. IBM (IBM) downgraded to Hold from Buy at Argus with analyst James Kelleher saying the company's growth prospects are "fading." 2. Gap (GPS) downgraded to Underweight from Neutral at JPMorgan with analyst Matthew Boss saying the timeframe for sequential same-store-sales improvement at the Gap brand and a return to the "momentum" last seen in the second half of 2017 is now less certain as the brand grapples with operational issues and an "assortment imbalance." 3. Yum! Brands (YUM) downgraded to In Line from Outperform at Evercore ISI with analyst Matt McGinley saying the recent move in shares have placed its valuation closer to the top of its peer franchised peers. 4. EnLink Midstream Partners (ENLK) downgraded to Neutral from Buy at Citi with analyst Mirek Zak citing valuation. 5. Wingstop (WING) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst John Glass citing valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/18/18
WEDB
10/18/18
NO CHANGE
Target $165
WEDB
Neutral
IBM price target lowered to $165 from $185 at Wedbush
Wedbush analyst Moshe Katri lowered his price target for IBM to $165 from $185 after the company reported mixed Q3/CY18 results as the "growth" areas at IBM, namely Strategic Imperatives, Cognitive and Cloud are yet to show growth consistency/acceleration while profitability performance also remains unconvincing. The analyst continues to believe that only undertaking the difficult path of aggressively terminating/restructuring underperforming units, hence, sacrificing top-line growth for generating margin/free cash flow improvements will likely generate significant return to shareholders. Katri reiterates a Neutral rating on the shares.
10/18/18
ARGS
10/18/18
DOWNGRADE
ARGS
Hold
IBM downgraded to Hold at Argus on 'fading growth prospects'
As noted earlier, Argus analyst James Kelleher downgraded IBM to Hold after its Q3 revenue miss, saying the company's growth prospects are "fading". The analyst notes that revenues have "flipped back to negative" while margin in key business segments have shrunk. Kelleher adds that even though the stock is trading at a discount, a Hold rating is "appropriate" until the company can show "consistent top-line growth, margin expansion, and earnings acceleration".
RHT Red Hat
$116.66

-3.85 (-3.19%)

10/23/18
NEED
10/23/18
INITIATION
NEED
Buy
Red Hat, Pivotal Software, ServiceNow initiated with a Buy at Needham
As reported earlier, Needham analyst Jack Andrews initiated Red Hat (RHT), Pivotal Software (PVTL), and ServiceNow (NOW) with Buy ratings as part of his broader research note on select cloud-driven infrastructure software companies. The analyst notes that he expects new proprietary applications to generate rapid growth of cloud-based workloads, making the "platform as a service", or PaaS, market "one of the fastest growing segments in the technology stack". Andrews also points out that in addition to allowing "enterprises to run machine learning and deep learning algorithms in order to glean insights on how to improve customer experiences", a unique characteristic of infrastructure software companies is their pricing model driven by "per compute" or "consumption basis". The analyst contends that this makes them an attractive investment as "an infrastructure software vendor can maintain a long tail of growth within an enterprise by continuing to add licenses". Andrews assigns Red Hat a price target of $183, Pivotal Software a target of $25, and ServiceNow a price target of $224.
10/22/18
NEED
10/22/18
INITIATION
NEED
Buy
Red Hat initiated with a Buy at Needham
Needham analyst Jack Andrews initiated Red Hat with a Buy and $183 price target.
10/17/18
BARD
10/17/18
INITIATION
BARD
Neutral
Red Hat assumed with a Neutral at Baird
Baird analyst Jonathan Ruykhaver assumed coverage on Red Hat with a Neutral rating and $135 price target. The analyst believes the challenge facing Red Hat is that "paid RHEL growth could be slowing as more digital initiatives and new workloads whether on-premise or in the public cloud run increasingly on free Linux."
09/20/18
BMOC
09/20/18
NO CHANGE
Target $158
BMOC
Market Perform
Red Hat price target lowered to $158 from $177 at BMO Capital
BMO Capital analyst Keith Bachman lowered his price target on Red Hat to $158 and kept his Market Perform rating after its Q2 earnings miss, adding that the "solid" operating margins and "good" free cash flow in the quarter will likely be overshadowed by the worse than expected infrastructure growth rate of 8%. Despite the management's confidence in expected improved growth coming from a stronger renewal base, the analyst says his neutral stance is justified by the timing and uncertainty surrounding those expectations. Longer term, Bachman is still positive on the opportunity for Red Hat to be a "strong participant in building the hybrid cloud".

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NBRV

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Volaris

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ANIX

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