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Jefferies Upgrades Akamai Technologies (AKAM) to Buy Citing Improving Fundamentals

April 26, 2012 7:50 AM EDT Send to a Friend
Get Alerts AKAM Hot Sheet
Price: $60.42 +0.67%

Rating Summary:
    24 Buy, 9 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 3 | Down: 4 | New: 7
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Jefferies upgraded Akamai Technologies (NASDAQ: AKAM) from Hold to Buy with a price target of $42 (up from $41) following Q1 results.

The firm comments, "AKAM reported 1Q upside based on strong traffic volumes, continued strong ecommerce trends and further traction in the tech vertical. The results show improving fundamentals with accelerating growth while the traffic and price environment is improving."

The firm cut Q2 EPS from $0.38 to $0.37, maintained FY11 EPS of $1.65, and raised FY13 from $1.88 to $1.89.

For an analyst ratings summary and ratings history on Akamai Technologies click here. For more ratings news on Akamai Technologies click here.

Shares of Akamai Technologies closed at $38.75 yesterday.




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