Jefferies Maintains a 'Hold' on Rackspace (RAX); Google Moving In On Territory

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Jefferies maintains a 'Hold' on Rackspace (NYSE: RAX) price target of $54.00.

Analyst, Thomas Seitz, said, "Google (Nasdaq: GOOG) introduced attractively-priced Compute Engine and related IaaS products that will compete with AWS and RAX in the fast growing public cloud market. In our view, Google, given its size and technical know-how, could become a formidable competitor in the IaaS market. We continue to believe that the market may be large enough to support multiple providers, and that “fanatical support” remains a key differentiator for RAX."

For an analyst ratings summary and ratings history on Rackspace click here. For more ratings news on Rackspace click here.

Shares of Rackspace closed at $41.95 yesterday, with a 52 week range of $30.34-$60.55.

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