Red Hat Shares Have Even Upside-Downside Profile, JPMorgan Says In Downgrade [Yahoo! Finance News]
RED HAT (RHT)
Last red hat earnings: 3/25 04:15 pm
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Source: Yahoo! Finance News
Dual headwinds — namely middleware deceleration and a softer renewal pattern that impacted Red Hat's first-quarter results — are likely to linger for a few quarters, Murphy said in the downgrade note. The deduction is based on the findings of JP Morgan's Q2 Red Hat partner survey, which painted a mixed picture, with a couple of metrics improving and others deteriorating. If the decelerating trend results in a CY19 EV/FCF range of 20-30 times for Red Hat, the analyst expects the shares to trade in the $120-$180 range for now, equating to an even upside/downside profile.
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