Credit Suisse analyst Bryan McGrath loves Rackspace (RAX).
He called the Web-hosting firm “an early leader in the emerging market of cloud computing,” and gave it an “outperform” rating in his first report today.
He said Rackspace revenues will grow 16% in 2009 and 2010 as companies look to outsource their computing needs due to the “same basic economic forces that drove businesses to switch from generating their own electricity to purchasing power as needed from a local utility.”
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