Dougherty & Co Upgrades Akamai Technologies (AKAM) to Buy, Sees 26% Upside

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Dougherty & Co upgraded Akamai Technologies (NASDAQ: AKAM) from Neutral to Buy with a $59 price target, suggesting 26% upside. The firm cited valuation after the 10% slide since their November 30th initiation.

The firm cited weakness since the company's analyst day as AKAM didn't raise guidance. In addition, caution on the loss of Neflix as a CDN customer to Level 3 and the renewed debate on 'net neutrality' may have added to investor caution

For more ratings news on Akamai Technologies click here and for the rating history of Akamai Technologies click here.

Shares of Akamai Technologies closed at $47.05 yesterday, with a 52 week range of $22.46-$54.10.

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