Benchmark Upgrades Rackspace (RAX) to 'Buy' on Strong 2012 Outlook
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Price: $31.99 --0%
Rating Summary:
5 Buy, 21 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 9 | New: 13
Rating Summary:
5 Buy, 21 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 9 | New: 13
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Benchmark upgraded Rackspace (NYSE: RAX) from Hold to Buy, price target raised from $45 to $60.
Analyst, Clayton F. Moran, said, "Rackspace reported strong 4Q11 results while indicating trends should drive similar performance in 2012. We raise our estimates to reflect sustained high growth and solid margins. We now forecast over 30% y/y EBITDA growth in both 2012 and 2013."
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 $49.23 yesterday.
Analyst, Clayton F. Moran, said, "Rackspace reported strong 4Q11 results while indicating trends should drive similar performance in 2012. We raise our estimates to reflect sustained high growth and solid margins. We now forecast over 30% y/y EBITDA growth in both 2012 and 2013."
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 $49.23 yesterday.
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