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Wall Street Still Optimistic About Red Hat

Lora Bentley

Forbes reports that Red Hat's stock plummeted 23 percent in after-hours trading yesterday, due to the company's lower-than-expected revenue projections, which ranged from $103.5 million to $105 million rather than the $106 million Wall Street expected.

 

A UBS analyst remains optimistic despite the drop, according to the Forbes piece. UBS field checks, the analyst says, "do not support the drop in growth."


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