UPDATE: Jefferies Reiterates Hold Rating, Raises PT on Akamai Technologies on Multiple Positive Factors

In a report published Monday, Jefferies analyst Aaron Schwartz reiterated a Hold rating on

, and raised the price target from $40.00 to $44.00. In the report, Jefferies noted, “IP traffic growth forecasts have been revised lower due to the accelerating mix shift to tablets from PCs, according to the latest Cisco Visual Networking Index. However, other data points such as an increasing percent of IP traffic delivered by CDNs, a mix shift in content towards IP video and a concentration of traffic towards ‘busy-hour' periods are all favorable for CDN fundamentals and the strategic value of these networks.” Akamai Technologies closed on Friday at $46.12.