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Red Hat, Inc. (NYSE:RHT): According to Piper Jaffray, Red Hat’s results for Q1 were mixed since the company’s billings growth reached only 16% which is lower than the consensus of 18%-19%, but the firm sees Red Hat as on of the top cloud computing plays, recommending pullbacks as a means to accumulate the stock. The firm keeps its Overweight rating and a $63 price target on the stock. Citigroup believes the recent pullback on shares of Red Hat creates a buying opportunity. Citi dropped its price target for shares from $68 to $66, but thinks the company’s secular trends will stay intact.
Equinix, Inc. (NASDAQ:EQIX) price target was raised by Benchmark Co. after the the company’s analyst day, but the firm does not necessarily see the analyst day as a positive catalyst for Equinix. The firm maintains its Buy rating on the stock.
V.F. Corporation (NYSE:VFC) has been added to Citigroup’s Top Picks Live list because of the recent pullback in shares. The firm sees recent share sell-offs of VF Corp., Polo Ralph Lauren (NYSE:RL), and PVH Corp. (NYSE:PVH) as opportunities to buy. The firm maintains a Buy rating and a $165 price target on shares of VF Corp.
DepoMed Inc.’s (NASDAQ:DEPO) risk/reward is favorable considering valuation and catalysts, including Glumetza upside, Gralise’s orphan drug status, Janumet XR royalties, and Serada news flow. The price target it at $9.
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