A stock upgrade by an analyst firm helped drive Red Hat stock to match its 52-week high in trading Wednesday.
FTN Midwest upgraded Red Hat (Nasdaq: RHAT) to “buy” from “neutral”.
Red Hat shares surged more than 6 percent and were trading at $25.96, its 52-week high, just before noon on Wednesday.
The stock closed a bit lower for the day at $25.77.
Banc of America Securities downgraded the stock to “neutral” from “buy” on Nov. 15.
Red Hat: www.redhat.com