Citigroup Downgrades Rackspace Tech to Sell, Raises Price Target to $1.5
Portfolio Pulse from richadhand@benzinga.com
Citigroup analyst Ashwin Shirvaikar has downgraded Rackspace Tech (NASDAQ:RXT) from Neutral to Sell, while raising the price target from $1.25 to $1.5.
July 25, 2023 | 9:12 am
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NEGATIVE IMPACT
Rackspace Tech has been downgraded from Neutral to Sell by Citigroup, with a raised price target of $1.5.
The downgrade from Neutral to Sell indicates a negative outlook for Rackspace Tech. Despite the raised price target, the Sell rating suggests that the stock may underperform in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100