Stifel Nicolaus reiterates its Buy rating on AKAMAI Technologies AKAM and raises its price target to $43 from $32 a share a rebound in media growth and stability in margins.
Stifel Nicolaus says, "Akamai's 4Q11 revenue of $323.7mn exceeded our forecast for
$310.6mn and consensus at $311.7mn. The $13.1mn in revenue outperformance relative to our forecast came from strength across verticals including media and entertainment, $7.5mn above our forecast, commerce, $2.0mn, and the high tech segment, $3.5mn. 4Q11 adjusted EPS was $0.45 compared to our forecast and consensus for $0.40 as operating margins came in 135bp better than expected. The EPS beat was a combination of the revenue strength, a lower than expected tax rate, and lower than expected share count as share repurchases continued in the quarter."
AKAM closed at $34.44 a share on AKAM
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