UPDATE: Stifel Nicolaus Resumes Buy on Red Hat; Plenty of RHEL Growth Left

Stifel Nicolaus resumes its coverage on Red Hat RHT with a Buy rating and a price target of $70. Stifel Nicolaus comments, "Red Hat has done an admirable job decoupling RHEL's long-term trajectory from server growth rates, and we believe we will see continued RHEL adoption due to a variety of drivers (e.g., mainstreaming beyond core verticals, geographic expansion) as companies become more comfortable with open source technologies and prepare for future cloud deployments." RHT closed at $61.95 on Thursday.