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Fly News Breaks for July 27, 2016
AKAM
Jul 27, 2016 | 07:10 EDT
Pacific Crest analyst Michael Bowen downgraded Akamai Technologies to Sector Weight from Overweight saying the lowered expectations again for its big two media customers. Competition in the media segment is rising and margins are moving lower near term, Bowen tells investors in a post-earnings research note. He sees fair value for the shares at $46. The analyst thinks Akamai's top six customers are all at risk of taking their business in-house.
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