Morgan Stanley Downgrades Rackspace Hosting To Equal-weight

Analysts at Morgan Stanley downgraded Rackspace Hosting, Inc. RAX from Overweight to Equal-weight. The price target for Rackspace Hosting has been lowered from $55.00 to $49.00. Rackspace Hosting shares have gained 77.81 percent over the past 52 weeks, while the S&P 500 index has surged 10.96 percent in the same period. Rackspace Hosting shares fell 13.42 percent to $46.00 in pre-market trading.