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UPDATE: Bank of America Raises Price Objective on Rackspace Hosting to $48

According to Bank of America, Rackspace Hosting (NYSE: RAX) price objective is raised to $48.

Bank of America said that 3Q acceleration and sustained same store sales. “RAX remains our top infrastructure Cloud name which is differentiating itself through quality support, proprietary management software and scale.”

Rackspace Hosting closed yesterday at $41.75.

Posted-In: Bank of America Merrill LynchAnalyst Color Price Target Analyst Ratings

 

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