UPDATE: JP Morgan Initiates Coverage on Rackspace Hostings with Overweight Rating, $83 PT
Posted on December 05, 2012 at 12:29 PM EST
In a report published Wednesday, JP Morgan & Co. initiated coverage on Rackspace Hosting (NYSE: RAX ) with an Overweight rating and $83.00 price target. JP Morgan noted, “The move to cloud computing is one of the few secular trends in technology seen in the tough macro environment we have