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New cloud entrants not near-term threat to Rackspace, says Piper Jaffray

Piper Jaffray notes that over the last few months, Hewlett-Packard (HPQ) has launched several new cloud services while Dell (DELL) is increasing its cloud development. Piper says that while the new services have led to investor concern, it does not see the new products as an immediate or even medium-term threat to Rackspace's (RAX) cloud growth. The firm keeps an Overweight rating on shares of Rackspace.