Rackspace (RAX) Price Target Raised to $50-$52 at Wells Fargo

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November 11, 2014 9:31 AM EST
Get Alerts RAX Hot Sheet
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
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Wells Fargo reiterated an Outperform rating on Rackspace (NYSE: RAX) and raised its price target to $50-$52 (from $42-$46). The change follows its Q3 print. Analyst Gray Powell noted strong results and evidence of an improving margin profile.

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 $37.32 yesterday.


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