UPDATE: Raymond James Starts Rackspace Technology Inc. (RXT) at Outperform
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Raymond James analyst Frank Louthan initiates coverage on Rackspace Technology Inc. (NASDAQ: RXT) with a Outperform rating, PT $28.50.
The analyst comments "We are initiating coverage on Rackspace with an Outperform rating and a $28.50 price target, after having previously covered its predecessor as a public company before it was taken private in November 2016. We believe Rackspace is well-positioned to take advantage of the continued proliferation of data growth over the next several years. The company has distinguished itself as a premier managed services provider (MSP) focused on helping customers with multicloud deployments."
Shares of Rackspace Technology Inc. closed at $24.95 yesterday.
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