UPDATE: Credit Suisse Initiates Coverage on Red Hat on Position as Open-Source Leader

In a report published Friday, Credit Suisse analyst Sitikantha Panigrahi initiated coverage on Red Hat (NYSE: RHT ) with an Outperform rating and $70.00 price target. In the report, Credit Suisse noted, “We are initiating coverage of Red Hat with an Outperform rating and a target price of $70. Red