Jefferies Downgrades Rackspace (RAX) to Hold
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Price: $31.99 --0%
Rating Summary:
5 Buy, 21 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Rating Summary:
5 Buy, 21 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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Jefferies downgraded Rackspace (NYSE: RAX) from Buy to Hold with a price target of $54.00 (from $64.00).
The firm comments, "Although we remain positive on the long term hosting/cloud opportunity, we believe in the near-term, Rackspace's growth could modestly slow down as it migrates to the OpenStack platform. Consequently, as a trade we recommend staying on the sidelines over the next several months. "
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 $47.02 yesterday.
The firm comments, "Although we remain positive on the long term hosting/cloud opportunity, we believe in the near-term, Rackspace's growth could modestly slow down as it migrates to the OpenStack platform. Consequently, as a trade we recommend staying on the sidelines over the next several months. "
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 $47.02 yesterday.
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