UPDATE: Canaccord Genuity Lowers Akamai Technologies' PT
According to a research report published this morning, Canaccord Genuity has decreased Akamai Technologies' (NASDAQ: AKAM) PT from $34 to $32.
In the report, Canaccord Genuity said, "We continue to rate Akamai HOLD following the recent downdraft with its share price after Q1 results, Q2 guidance and the announcement that the CEO would be stepping down. While it was revealed at a recent industry conference that CDN pricing conditions may have improved in the near term, we believe this positive note is more than overshadowed by the announcement that Amazon would launch a competing dynamic site acceleration product and effectively replace Cotendo as a long-term competitor."
Akamai Technologies closed yesterday at $30.19.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.