UPDATE: Jefferies Upgrades Akamai Tech; Raises PT

According to a research report published this morning, Jefferies has upgraded Akamai Tech AKAM from Hold to Buy, and has increased PT from $41 to $42. Jefferies mentioned in the report, "AKAM reported 1Q upside based on strong traffic volumes, continued strong ecommerce trends and further traction in the tech vertical. The results show improving fundamentals with accelerating growth while the traffic and price environment is improving. As such, we are upgrading shares to a Buy (from Hold) with a $42 price target." Akamai closed yesterday at $35.91.