Merriman Capital Initiates Coverage On Akamai

Merriman Capital is out with a research report on Akamai

and is initiating coverage with a Buy rating. In the note, Merriman writes, "While we previously believed that Akamai deserved a premium valuation, as a result of its slower-than-expected growth, we now believe that AKAM should trade more inline with its peer. However, the stock is currently trading at what we view as an unwarranted discount to its peer group." Shares of AKAM gained 59 cents yesterday to close at $23.62.