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Fly News Breaks for May 16, 2016
AKAM
May 16, 2016 | 07:01 EDT
Deutsche Bank analyst Vijay Bhagavath says his sum-of-parts scenario suggests 50% upside to shares of Akamai Technologies from current levels over the longer term. Fears around decelerating growth in Akamai's Media business are overdone, Bhagavath tells investors in a research note. With 35% of the world's internet traffic and with 55% market share in Video CDN, Akamai has a video delivery platform for the "long tail" of media broadcasters and aggregators, the analyst writes. He views the Olympics as a catalyst for shares in Q3 and the U.S. elections as a catalyst for shares in Q4. Bhagavath keeps a Buy rating on Akamai with a $72 price target.
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