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Fly News Breaks for August 9, 2016
AKAM
Aug 9, 2016 | 06:15 EDT
Piper Jaffray analyst Michael Olson points out that shares of Akamai Technologies are down 13% since the company reported Q2 results on July 26 and guided Q3 below expectations. Historically, buying Akamai on guidance related pullbacks has proven to be a favorable strategy, Olson tells investors in a research note. The analyst expects strong continued Performance & Security growth and believes the company's core non-security business is being undervalued. He maintains an Overweight rating on the shares with a $64 price target.
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