UPDATE: Raymond James Starts Rackspace Technology Inc. (RXT) at Outperform
- Wall Street ends volatile week sharply higher
- AT&T (T) in Talks to Merge Media Assets with Discovery (DISCA) - WSJ
- Disney (DIS) Dips As Streaming Business Shows Signs of Slowing Down, Analysts 'Very Bullish' on LT Opportunity
- Airbnb (ABNB) Bookings Up 52% to Help Sales Beat, Seen as a 'Blow Out Quarter' as More Upside is Left
- DoorDash (DASH) Reports Bigger Loss and a Sales Beat, Shares Soars on Strong Guidance and Two Upgrades to 'Buy'
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.
You May Also Be Interested In
- UPDATE: Raymond James Upgrades Rackspace Technology Inc. (RXT) to Strong Buy
- Citi Reinstates General Electric (GE) Coverage with 'Buy' and a 'Street-High' Price Target Amid Improving Execution
- Balkrishna Industries Ltd. (BIL:IN) PT Raised to INR1,775 at Investec
Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Related EntitiesRaymond James
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!