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Fly News Breaks for November 24, 2015
RAX
Nov 24, 2015 | 08:29 EDT
CLSA analyst Louis Miscioscia lowered Rackspace's price target to $23 from $27 to reflect aggressive competition, which is likely to put more pressure on growth, margins, and cashflow. Miscioscia said Amazon Web Services and Microsoft are pushing hard to win more Enterprise business and Rackspace's core is under threat both in cloud and managed hosting. The analyst has an Underperform rating on shares.
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