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Fly News Breaks for December 1, 2015
RAX
Dec 1, 2015 | 06:42 EDT
RBC Capital upgraded Rackspace to Outperform and a $36 price target on shares. Analyst Jonathan Atkin believes Rackspace will benefit from its managed cloud support services for Microsoft Azure and Amazon Web Services as momentum for enterprise cloud continues. Atkin expects demand will be in the managed cloud segment, where Rackspace will gain due to its growing ability to provide support on each of these platforms. The analyst expects accelerating revenue growth coupled with stable to declining capital intensity to drive shares higher.
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