Akamai (AKAM) Street Rev. Growth Assumptions Conservative - Wells Fargo

Wells Fargo maintained an Outperform rating on Akamai Technologies (NASDAQ: AKAM) with a price target of $49.00.

Analyst Gray Powell said "We recently spoke with our contacts in the CDN space and came away with some positive takeaways for AKAM. In summary, demand for value added (aka cloud infrastructure) solutions remains strong with a high degree of interest in front end optimization technology."

"Additionally," said Powell, "CDN pricing remains rational and our contacts indicated no concern on competition increasing over the next 6-12 months. We think AKAM street rev growth assumptions on both CDN and cloud infrastructure solutions for '13 could prove conservative and that AKAM could grow rev by 17%+ on a constant FX basis next year vs. street ests which imply 13% growth."

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 $37.93 yesterday.

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