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. (NASDAQ: AKAM) 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
Latest Ratings for AKAM
|Sep 2014||UBS||Initiates Coverage on||Buy|
|Aug 2014||Baird||Initiates Coverage on||Outperform|
|Jul 2014||Credit Suisse||Maintains||Neutral|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.