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Fly News Breaks for August 9, 2016
RAX
Aug 9, 2016 | 07:50 EDT
Wells Fargo believes that Rackspace reported "solid" Q2 results, as the firm thinks that the company's free cash flow growth has hit a positive turning point. Wells expects the company's free cash flow to rise going forward as the momentum of its partnerships increases. Wells increases its price target on the shares to $33-$34 from $25-$26 and keeps an Outperform rating on the stock.
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