UPDATE: Pacific Crest Upgrades Akamai to Outperform, Sets New $65 Price Target

In a report issued Wednesday, Pacific Crest Securities upgraded its rating on Akamai Technologies, Inc.

from Sector Perform to Outperform and set a $65 price target. Analyst Chad Bartley of Pacific Crest believes media traffic growth will drive upside during the second quarter. This, paired with a “more bullish outlook for the CDN segment,” has Bartley anticipating a positive future for Akamai Technologies. A few hours into Wednesday's trading session, shares of Akamai are up 2.5 percent to $54.66. Bartley's new price target