Barclays Maintains Underweight on Rackspace Tech, Lowers Price Target to $1
Portfolio Pulse from Benzinga Newsdesk
Barclays analyst Ramsey El-Assal has maintained an Underweight rating on Rackspace Tech (NASDAQ:RXT) and lowered the price target from $2 to $1.
October 23, 2023 | 2:48 pm
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NEGATIVE IMPACT
Barclays has maintained an Underweight rating on Rackspace Tech and lowered the price target from $2 to $1, which could negatively impact the stock's price.
The lowered price target from Barclays indicates a bearish outlook for Rackspace Tech. This could lead to a decrease in the stock's price as investors adjust their expectations based on this new target.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100