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Red Hat falls on analyst's downgrade

Posted by tadelste on · 2 comments
MarketWatch; By Michael Paige 		Mail this story
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Bank of America analyst Kirk Materne cut his rating on Red Hat's shares (RHAT:22.99, -1.37, -5.6%) to neutral from a buy, saying the stock's march upward leaves only moderate room for upside in the intermediate term. While Red Hat's long-term growth prospects are intact, the shares are less compelling for the near-term, he said.

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Comments (2)

TxtEdMacs ·
I read this last night, the downgrade is simply saying the stock reached its reasonable value range. Moreover, he still thinks the long term prospects are good. I was a bit perplexed earlier when the stock price exceeded $22.

Once more herd thinking in action: panic.
tuxchick ·
when i worked at Tektronix lo so many years ago, before the dotcom crash, one of the VPs was all excited over participating in the "Linux IPO." Of course I asked, er, which Linux? He had absolutely no clue that the actual company he bought stock in was Red Hat.

I don't mean this as a slam on Tektronix. It's a good company chock full o smart people. It just amazed me that anyone would be that uninformed with their investments.

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