Merrill Lynch upped its rating on Red Hat stock to a “buy” from “neutral” on Friday after Red Hat completed its analyst tour in New York.

Red Hat (Nasdaq: RHAT) closed up 12 percent, or $1.52, at $13.75 on Friday.

Also Friday, Jeffries & Co. downgraded the stock to “hold” from “buy”.

The trip to New York included Red Hat’s announcement of the purchase of certain assets of Netscape Communications from AOL and also introduced the firm’s new CFO, Charlie Peters.

In the meeting with analysts, Red Hat reiterated plans to expand its operations, The Street.com reported.

Red Hat: www.redhat.com