Citigroup Maintains Sell on Rackspace Tech, Lowers Price Target to $1.25
Portfolio Pulse from Benzinga Newsdesk
Citigroup analyst Ashwin Shirvaikar has maintained a Sell rating on Rackspace Tech (NASDAQ:RXT) and reduced the price target from $1.50 to $1.25.
November 20, 2023 | 7:08 pm
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Citigroup has reiterated a Sell rating on Rackspace Tech and lowered the price target, indicating a bearish outlook on the stock.
The reiteration of a Sell rating combined with a lowered price target suggests that Citigroup's analysis points to potential downside for RXT's stock price in the short term. This could influence investor sentiment and lead to a decrease in the stock price.
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