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2 Stocks Hitting 52-Week Highs: Rackspace, Curtiss-Wright

NEW YORK ( TheStreet) -- Shares of Rackspace Hosting (RAX - Get Report) and Curtiss-Wright (CW - Get Report) reached 52-week highs on Tuesday.

Both of the companies received a buy rating from TheStreet Ratings.

Rackspace Hosting

The ccoud computing software maker reported fourth-quarter earnings Tuesday of $25 million, or 18 cents a share, on revenue of $283.3 million in revenue. Analysts were expecting earnings of 15 cents a share on revenue of $281 million.

The stock was upgraded to buy from hold by Benchmark analysts on Tuesday.

"Rackspace traded to $52 after-hours, or 16x 2012E [earnings before interest, taxes, depreciation and amortization]," Benchmark analysts wrote in a report Tuesday. "But as the pure-play cloud leader with robust operating momentum and 30% organic EBITDA growth, we believe the stock can go higher."

Shares of Rackspace hit a 52-week high Tuesday of $55.26. The stock's 52-week low of $30.34 was set on Oct. 4.

Rackspace has a forward P/E of 47.69; the average for Internet companies is 23.57. For comparison, Akamai (AKAM) and IAC/InterActiveCorp (IACI) both have lower forward P/Es of 20.65 and 14.08, respectively.

Thirteen of the 21 analysts have a buy rating on Rackspace. Seven analysts said it's a hold and one rated it a sell.

Rackspace gets a B grade from TheStreet Ratings and a $65.17 price target. The stock has increased 27.37% year to date.

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