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Fly News Breaks for August 8, 2016
APO, RAX
Aug 8, 2016 | 07:54 EDT
Oppenheimer analyst Timothy Horan raised his price target for Rackspace (RAX) to $32 from $30 after The Wall Street Journal reported that the company was in advanced talks to sell itself to Apollo Global (APO) for $3.5B, or $27 per share. The analyst believes this is low and that a deal in the $32 area is more likely. Oppenheimer has an Outperform rating on Rackspace's shares.
News For RAX;APO From the Last 2 Days
