Jefferies Downgrades Rackspace (RAX) to Hold
Tweet
Share
E-mailGet Alerts RAX Hot Sheet
Price: $31.99 --0%
Rating Summary:
5 Buy, 21 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 14 | New: 26
Rating Summary:
5 Buy, 21 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 14 | New: 26
Join SI Premium – FREE
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Deutsche Bank Downgrades L'Oreal SA (OR:FP) (LRLCY) to Sell
- Wolfe Research Downgrades Five Below (FIVE) to Peerperform
- UBS Downgrades Apogee Therapeutics Inc (APGE) to Neutral
Create E-mail Alert Related Categories
Downgrades, Hot DowngradesRelated Entities
Jefferies & CoSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
