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Fly News Breaks for June 26, 2018
AKAM
Jun 26, 2018 | 21:01 EDT
JPMorgan analyst Sterling Auty kept his Overweight rating and $92 price target on Akamai after today's Analyst Day presentation. Auty says the focus fell largely on the top-line guidance reduction for FY18, but the decline was driven entirely by the FX headwinds, adding that on a constant currency basis, the guidance is heading higher. The analyst also cites the management's maintained commitment to drive profitable growth, with its 30% operating margin target by 2020 remaining intact.
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