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Citigroup says Red Hat "tempting" takeover target   
Thursday, March 26 2009 @ 03:40 PM EST
Contributed by: sde

Citigroup said Red Hat Inc, which posted strong quarterly results on Wednesday, is a potential takeover target as the Linux software maker's strategy attracts the attention of larger technology firms.

Citigroup and RBC Capital raised their price targets on Red Hat, which also forecast full-year results in line with market estimates.

"We believe Red Hat is a tempting acquisition target," Citigroup analyst Brent Thill wrote in a note to clients.

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