BofA/Merrill Lynch Upgrades Rackspace (RAX) to Buy
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Price: $31.99 --0%
Rating Summary:
5 Buy, 21 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
5 Buy, 21 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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BofA/Merrill Lynch upgraded Rackspace (NYSE: RAX) from Neutral to Buy with a price target of $38. Analyst Scott Shiao said data suggests relative stabilization in fundamentals. He also said LBO analysis indicates upside to $25-$28 with higher valuation possible on capex cuts.
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 $25.85 yesterday.
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