Market Overview

UPDATE: Jefferies Raises Target to $41 on Akamai Technologies

Jefferies reiterates its Hold rating on Akamai Technologies (NASDAQ: AKAM) and raises its target by $5 to $41 as the company delivers a strong quarter on holiday momentum and increased traffic.

Jefferies says, "AKAM reported strong F4Q results as the seasonally strong ecommerce and advertising areas outperformed while the company saw a reacceleration in overall traffic volume. We had liked the stock due to the ecommerce seasonality and easy 1Q comps and believe secular trends including a shift to video streaming could provide a longer and greater than modeled tailwind in CY12."

AKAM closed at $34.44 a share on Wednesday.

Posted-In: JefferiesAnalyst Color Price Target Reiteration Intraday Update Analyst Ratings

 

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