RBC Capital Raises PT on Rackspace Technology (RXT), Here’s Why

Rackspace Technology (RXT) experienced an 8% increase in its stock price following the announcement of a strategic partnership with Palantir. In response to these developments, RBC Capital has raised its price target for the company. The stock jump is directly attributed to the collaboration with Palantir, reflecting a positive market reaction to the partnership. RBC Capital's adjustment of the price target further signals a revised valuation of the company's growth potential.