Barclays Maintains Underweight on Rackspace Tech, Raises Price Target to $2
Portfolio Pulse from jenniferd'souza@benzinga.com
Barclays analyst Ramsey El-Assal has maintained an Underweight rating on Rackspace Tech (NASDAQ:RXT) and raised the price target from $1 to $2.
July 25, 2023 | 11:02 am
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Barclays has maintained an Underweight rating on Rackspace Tech, but raised the price target from $1 to $2.
While the Underweight rating suggests that Barclays expects Rackspace Tech's stock to underperform, the raised price target indicates a slightly more positive outlook. However, the low price target suggests that the overall sentiment is still bearish.
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