This morning, Wells Fargo upgraded shares of Rackspace Hosting (RAX) from market perform to outperform as there is considerable upside in the cloud business. With the upgrade, Wells Fargo set a price target range of $46 to $49 per share. In afternoon trading, shares of RAX were higher by 4.3%.
JMP Securities increased its EPS estimates on shares of Lennar (NYSE:LEN) through 2014 as the company is seeing its backlog increase and margins improve. In the report, JMP maintained its market perform rating. Shares of Lennar were higher by 1.4% on the news.
And Nomura upgraded shares of MGM Resorts (NYSE:MGM) to a buy rating as the company is seeing better-than-expected revenue from Vegas. With the upgrade, Nomura set a new $18 price target. Shares of MGM were higher by 4.9% today.
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