Goldman Sachs Upgrades Rackspace (RAX) to Buy
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Goldman Sachs upgrades Rackspace (NYSE: RAX) from Neutral to Buy and raised its price target from $16 to $23. The firm said their proprietary cloud hosting pricing survey "indicates that Rackspace is well-positioned to stay ahead of new cloud competition, given its value pricing and reputation for customer service."
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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