Goldman Sachs Downgraded Rackspace (RAX) to Neutral
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Goldman Sachs downgraded Rackspace (NYSE: RAX) from Buy to Neutral, saying their buy catalysts have largely played out and the risk-reward is more balanced after significant rally since their 4/6/09 Buy rating.
The firm continues to believe in the longer term fundamentals of RAX, including the outsourcing trend and company execution.
Rackspace Hosting, Inc. provides information technology (IT) as a service, manages Web-based IT systems for small and medium-sized businesses, as well as large enterprises worldwide.
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