Morgan Stanley Comments On Red Hat's Strong Q1

According to Morgan Stanley, Red Hat RHT saw a strong Q1. Morgan Stanley said that, after posting 28% YoY billings growth and 49% operating cash flow (OCF) growth in Q1, the FY12 guide looking for total revenues up just 18.5% and OCF up 15% sets up RHT for continued beat and raise quarters through FY12. “Given RHT's accelerating growth, positive est. revisions and an inexpensive growth adjusted value, we remain buyers with a $55 PT.” Red Hat closed yesterday at $43.72.