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A statement released earlier today by BMO Capital about Red Hat (NYSE:RHT) bumps the target price to $107.00

Yesterday Red Hat (NYSE:RHT) traded -0.41% lower at $89.96. The company’s 50-day moving average is $102.94 and its 200-day moving average is $92.77. The last closing price is down 15.66% from the 200-day moving average, compared to the S&P 500 which has increased 0.04% over the same time. 1,208,885 shares of the stock were exchanged, down from an average trading volume of 1,607,240

BMO Capital raised the target price of Red Hat (NYSE:RHT) to $107.00 reporting a possible upside of 0.19%.

Previously on Wednesday May 24, 2017, Bernstein reported on Red Hat (NYSE:RHT) raised the target price from $0.00 to $102.00. At the time, this indicated a possible upside of 0.16%.

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Red Hat (NYSE:RHT)

Red Hat has a 52 week low of $68.54 and a 52 week high of $108.13 with a P/E ratio of 73.49 The company’s market cap is currently $0.

In addition to BMO Capital reporting its target price, a total of 30 brokers have issued a report on the stock. The consensus target price is $88.13 with 8 brokers rating the stock a strong buy, 18 brokers rating the stock a buy, 4 brokers rating the stock a hold, 1 broker rating the stock a underperform, and finally 0 brokers rating the stock a sell.

General Information About Red Hat (NYSE:RHT)

Red Hat, Inc. (Red Hat) provides open source software solutions, using a community-powered approach to develop and offer operating system, virtualization, management, middleware, cloud, mobile and storage technologies. Red Hat operates through three geographical segments: the Americas, including the United States, Canada and Latin America; EMEA, including Europe, Middle East and Africa, and Asia Pacific. Its products and services include infrastructure-related offerings, application development-related and other technology offerings, and consulting, support and training services. Its infrastructure-related offerings include Red Hat Enterprise Linux, Red Hat Satellite and Red Hat Enterprise Virtualization. Its application development-related and other technology offerings include Red Hat JBoss Middleware, Red Hat cloud offerings, Red Hat Mobile and Red Hat Storage. Its consulting services include upgrade planning, platform migrations, solution integration and application development.

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