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Fly News Breaks for September 10, 2018
AKAM
Sep 10, 2018 | 08:01 EDT
As reported earlier, DA Davidson analyst Mark Kelleher upgraded Akamai to Buy from Neutral and raised his price target to $93 from $80 after meeting with its management last week to discuss its Q2 results and the company direction going into 2019. The analyst notes that the discussions boosted his confidence in the company's strategic direction as it executes in a transition to a security vendor, saying the company supported by the "enhanced demand" for its security products over the last few quarters. Kelleher further cites the abating headwinds in the company's media segment, which returned to growth after struggling for the past few quarters.