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Prudential Raises Red Hat Outlook


Prudential raised its estimates and price target on Red Hat (RHAT).

Analyst Brent Trill says Red Hat reported significantly better than expected fourth-quarter results -- total subscriptions rose 85% sequentially, to 61,000 shipments. Trill thinks these results validate Red Hat's leadership in the marketplace with insatiable demand for Linux OS as adoption rates have significantly accelerated over the past two quarters.

Trill raised the $174 million fiscal 2005 (Feb.) revenue estimate to $211 million, and upped the $238 million fiscal 2006 revenue estimate to $333 million. He upped the 17 cents fiscal 2005 earnings per share estimate to 27 cents, and raised the 30 cents fiscal 2006 estimate to 50 cents, based on enterprise Linux shipment acceleration Trill also raised the $22 target to $28, and rates the shares as overweight.


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