 Shares of Rackspace Technology Inc. RXT, 0.55 dropped 3.0 in premarket trading Friday, after the cloud services company was downgraded by Oppenheimer analyst Timothy Horan, who said increased macro headwinds and very high debt warrants caution. Horan cut his rating to perform, after being at outperform since January 2021, and removed his 18 stock price target. 