UPDATE: JPMorgan Starts Rackspace Technology Inc. (RXT) at Overweight

(updating comment)

JPMorgan analyst Tien-tsin Huang initiates coverage on Rackspace Technology Inc. (NASDAQ: RXT) with a Overweight rating and a price target of $28.00.

The analyst comments "Rackspace is a pure-play in the fast growing multi-cloud services, generating more than two-thirds of revenue from cloud. The company is also differentiated vs. public peers by
focusing on SMid cap clients (JPMe 70% of rev) and smaller Enterprise customers. Finally, the company is seeing solid improvement in bookings, driven by improved sales focus and culture put in place by new leadership installed in April 2019."

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

Shares of Rackspace Technology Inc. closed at $19.33 yesterday.

You May Also Be Interested In

• Bernstein SocGen Group Starts Terawulf Inc. (WULF) at Outperform
• Freedom Broker Starts Royal Caribbean Cruises (RCL) at Buy
• Rodman & Renshaw Starts Neurogene (NGNE) at Buy, PT $70