Akamai Technologies (AKAM) Target Boosted at Canaccord Genuity

Canaccord Genuity analyst Greg Miller reiterated a Buy rating on Akamai Technologies (NASDAQ: AKAM) and boosted his price target from $63 to $68 following the company's annual investor day.

Miller said, "Akamai hosted its annual investor day on Tuesday, reiterating some of the common themes that continue to support our long-held BUY-rated thesis. With overall Internet traffic growth continuing to accelerate and with the likely traction of newer lines of business like carrier services or the security business, we believe top-line revenue growth will continue at the mid- to high-teens range with the potential for continued margin expansion over time."

Mr. Miller added "With two stellar quarters behind us at a very controversial time for the company and with Q1/14 guidance that far exceeded expectations, we continue to recommend the shares. With increasing confidence in the outlook, we increase our target to $68..."

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 $57.86 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Cleveland Research Upgrades Dynatrace Inc. (DT) to Buy, 'optimism underlying fundamentals are likely to support upside'
• Lithium Americas Corp (LAC) Prices 55M Share Offering at $5/sh
• Infosys Technologies (INFY) PT Lowered to $18 at BMO Capital