Rackspace Technology price target raised to $2.50 from $1.50 at BMO Capital

BMO Capital analyst Keith Bachman raised the firm’s price target on Rackspace Technology to $2.50 from $1.50 and keeps a Market Perform rating on the shares. The company’s Q4 results continued to be pressured by a weak services environment combined with an internal transformation, though its revenues could become more sequentially stable in the second half of the year, notably in Private Cloud, due to solid bookings execution, the analyst tells investors in a research note.