Market Overview

UPDATE: Evercore Upgrades Rackspace

Share:

Rackspace Hosting, Inc. (NYSE: RAX) was upgraded by Evercore from Hold to Buy late Monday with a $42 price target.

According to Bloomberg, the Evercore analysts cited the company’s valuation and traction in its core business as reasons for the upgrade.

The traction has been the result of a greater emphasis on managed hosting and potential alliances with cloud providers.

Evercore expected Rackspace to gain investor interest if it delivers additional year-over-year revenue growth in 3Q.

Rackspace Hosting, Inc. closed Monday at $33.80, down 1.47 percent.

Latest Ratings for RAX

DateFirmActionFromTo
Nov 2016TerminatesEqual-Weight
Aug 2016DowngradesMarket PerformUnderperform
Aug 2016DowngradesStrong BuyNeutral

View More Analyst Ratings for RAX
View the Latest Analyst Ratings

Posted-In: EvercoreUpgrades Price Target Analyst Ratings

 

Related Articles (RAX)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
SKXMaintains44.0
HYMaintains66.0
MSFTMaintains160.0
SKXUpgrades
WLTWMaintains208.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

Retrospective Study Of Enhanced Recovery After Surgery Program For Patients Undergoing Colorectal Surgery, Which Included Fluid Therapy Tailored to Masimo's PVI, Showed Reduced Length Of Stay and Cost Savings

Medtronic Announces Commencement of Pivotal Study of First Predictive Low Glucose Mgmt Technology for People with Diabetes