Red Hat falls on analyst's downgrade

Posted by tadelste on Nov 15, 2005 10:35 PM EDT
MarketWatch; By Michael Paige
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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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