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Red Hat: Oppenheimer, Weisel Downgrade Post-Earnings
Posted on June 26, 2008
Red Hat (RHT), which last night reported better-than-expected profits for its fiscal first quarter ended in May, was hit today by a pair of analyst downgrades.Oppenheimer s Brian Denyeau cut his rating on the stock to Perform from Outperform. He says Q1 results were in line, but notes that the stock has come close to his $23 price target, and that there are few catalysts on the horizon. He advises investors interested in infrastructure software to buy BMC (BMC) or Informatica (INFA) instead.Thomas Weisel Partners analyst Tim Klasell cut his rating on the stock to Market Weight from ...
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