Citigroup lowered shares of Red Hat (NYSE: RHT) from a buy rating to a neutral rating in a research report released on Tuesday morning. Citigroup currently has $56.00 price target on the stock, down from their previous price target of $64.00.
Shares of Red Hat traded down 1.30% during mid-day trading on Tuesday, hitting $50.14. Red Hat has a one year low of $46.34 and a one year high of $62.75. The stock’s 50-day moving average is currently $53.55. The company has a market cap of $9.687 billion and a P/E ratio of 68.65.
A number of other analysts have also recently weighed in on RHT. Analysts at TheStreet reiterated a buy rating on shares of Red Hat in a research note to investors on Friday, March 1st. Separately, analysts at Barclays Capital initiated coverage on shares of Red Hat in a research note to investors on Thursday, February 28th. They set an overweight rating and a $60.00 price target on the stock. Finally, analysts at RBC Capital reiterated an outperform rating on shares of Red Hat in a research note to investors on Tuesday, February 12th. They now have a $66.00 price target on the stock.
Seventeen equities research analysts have rated the stock with a buy rating, three have assigned an overweight rating, eleven have assigned a hold rating, and one has issued a sell rating to the stock. Red Hat currently has an average rating of overweight and a consensus price target of $60.77.
Red Hat, Inc. (Red Hat) is engaged in providing open source software solutions to the enterprise, including its Red Hat Enterprise Linux and JBoss Enterprise Middleware.
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