Fly News Breaks for August 12, 2019
Aug 12, 2019 | 07:38 EDT
JPMorgan analyst Tien-tsin Huang views IBM's acquisition of Red Hat favorably, saying the asset "should energize" IBM's quest to be the leader in hybrid cloud. The acquisition, while not without risks, could significantly accelerate OpenShift adoption rates, and help Red Hat establish the product as an industry standard in Containerization, Huang tells investors in a research note. He raised his price target for IBM to $152 from $147 but keeps a Neutral rating on the shares. The analyst wants to see proof of integration and execution before getting more constructive on the name.
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