Piper Jaffray analyst James Fish keeps an Overweight rating on Akamai Technologies (AKAM) with a $103 price target following a deep dive around the primary questions surrounding the company. New over-the-top services create a $480M total addressable market by 2024, with Disney+ (DIS) representing $140M and Akamai likely getting 30% share, Fish tells investors in a research note. Second, there is $1B in cross-sell available within the Security installed base and a $5B total addressable market of the entire content delivery networks installed base, and Akamai has only 20% total penetration, adds the analyst. In addition, he believes that while management is likely to point to "high-teens" 2020 cloud security growth, it is likely conservative as it implies a significant decline in new business growth. Akamai remains one of the analyst's top picks heading into 2020.

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