Investing
Analysts Start Rackspace Coverage As Quiet Period Ends (RAX)
Published:
Last Updated:
Rackspace Hosting, Inc. (NYSE: RAX) is seeing its quiet period end after its IPO, which now allows analysts in the underwriting group to initiate research coverage of the stock. So far this IPO has dropped from north of $11 after its August debut down to as low as $8.00 before coming back to close at $8.83 yesterday.
We have also provided a chart from stockcharts.com to show how it has performed since coming public.
Below is a quick snapshot of research initiations we have seen today:
- Credit Suisse started as OUTPERFORM
- Goldman Sachs started as NEUTRAL
- Jefferies started as BUY
- Merrill Lynch started as BUY
- RBC Capital started as OUTPERFORM
Shares are indicated slightly higher, but so far we have not yet seen any trades in Rackspace.
Jon C. Ogg
September 17, 2008
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
