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AKAM

Akamai

$65.21

-1.12 (-1.69%)

07:24
01/12/18
01/12
07:24
01/12/18
07:24

Oppenheimer sees 30% chance of Akamai sale or leveraged buyout

Oppenheimer analyst Timothy Horan thinks a sale or leveraged buyout of Akamai Technologies has a 30% probability. If buyers view the company as a software company, $4.30 in estimated free cash flow would suggest an $80 per share buyout price is achievable, Horan tells investors in a research note. The analyst sees a 50% probability of incremental improvements through a stock buyback and/or restructuring. He agrees with activist Elliott Management that Akamai's cost structure is too high for its growth rate and that its balance sheet is "absurdly" underlevered. Horan keeps an Outperform rating on Akamai with an $80 price target.

  • 06

    Feb

AKAM Akamai
$65.21

-1.12 (-1.69%)

01/03/18
DBAB
01/03/18
NO CHANGE
Target $75
DBAB
Buy
Akamai sale of Edge Platform could drive 'rerating,' says Deutsche Bank
Deutsche Bank analyst Vijay Bhagavath says a "reasonable approach" to longer term value creation for Akamai Technologies could include a potential sale of its CDN Edge Platform asset to a service provider. Such a move could drive a 'rerating" in the shares with the company's terminal value driven increasingly by growth in cloud security, Internet of Things and analytics, Bhagavath tells investors in a research note. His scenario model highlights potential for 30%-plus share outperformance. The analyst keeps a Buy rating on Akamai with a $75 price target.
01/10/18
JPMS
01/10/18
NO CHANGE
Target $75
JPMS
Neutral
JPMorgan ups Akamai target to $75 after analyzing its strategic options
JPMorgan analyst Sterling Auty raised his price target for Akamai Technologies to $75 after analyzing the company's strategic alternatives. The analyst explored where value can be created through three separate scenarios in light of the activist investor filing in December and Tuesday's Bloomberg report suggesting that the company is working with an investment bank to explore alternatives. Auty's scenarios for Akamai include remaining a standalone company and improving its fundamentals, a leveraged buyout and a strategic acquisition. These alternatives suggest stock prices of $84/$84/$80 for the end of 2018 or at the time of transaction, Auty tells investors in a research note. He believes standalone improvement or leveraged buyout "may make the most sense."
01/11/18
KEYB
01/11/18
DOWNGRADE
Target $51
KEYB
Underweight
Akamai downgraded to Underweight from Sector Weight at KeyBanc
KeyBanc analyst Brandon Nispel downgraded Akamai Technologies to Underweight with a price target of $51. The stock closed yesterday down $1.16 to $66.33. Activist Elliot Management's involvement as well Akamai's own strategic review increase the likelihood of a takeout, and put a higher focus on removing costs, but this will take time, Nispel tells investors in a research note. The analyst, however, sees a takeover as unlikely and believes the current valuation is "elevated" given the company's "deteriorating fundamental profile." Nispel does not expect any buyout interest from competitors. And he estimates that under a leveraged buyout scenario, Akamai could receive a 20%-25% premium.
01/11/18
01/11/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Akamai (AKAM) downgraded to Underweight from Sector Weight at KeyBanc with analyst Brandon Nispel saying activist Elliot Management's involvement as well Akamai's own strategic review increase the likelihood of a takeout, and put a higher focus on removing costs, but this will take time. 2. Tractor Supply (TSCO) downgraded to Neutral from Outperform at Wedbush with analyst Seth Basham citing valuation. 3. American Water (AWK) downgraded to Neutral from Buy at BofA/Merrill with analyst Julien Dumoulin-Smith citing premium valuation and guidance fears. 4. Acuity Brands (AYI) downgraded to Neutral from Buy at Seaport Global with analyst Matt McCall citing persistent pressures expected the next 1-2 quarters and import pressure concerns. 5. Hawaiian Holdings (HA) downgraded to Hold from Buy at Argus with analyst John Staszak saying he expects Hawaiian's yields to deteriorate as both United Continental (UAL) and Southwest (LUV) enter the West Coast-to-Hawaii market. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

MAT

Mattel

$16.09

-0.05 (-0.31%)

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Hasbro

$90.86

-1.7 (-1.84%)

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PNC

PNC Financial

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AAPL

Apple

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GE

General Electric

$16.96

0.785 (4.85%)

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SNE

Sony

$51.00

0.2 (0.39%)

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Sony

$51.00

0.2 (0.39%)

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Apple

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EXAS

Exact Sciences

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0.67 (1.40%)

14:25
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  • 26

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MAT

Mattel

$16.09

-0.05 (-0.31%)

, HAS

Hasbro

$90.86

-1.7 (-1.84%)

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MAT

Mattel

$16.09

-0.05 (-0.31%)

HAS

Hasbro

$90.86

-1.7 (-1.84%)

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FB

Facebook

$185.37

4.08 (2.25%)

14:18
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Facebook CMO leaving to advise other companies, help Democratic Party »

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$NSD

NASDAQ Market Internals

14:17
01/23/18
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Technical Analysis
NASDAQ market internals summary »

Volume is average for…

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$NYE

NYSE Market Internals

14:16
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Technical Analysis
NYSE market internals summary »

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W

Wayfair

$89.35

-1.29 (-1.42%)

14:15
01/23/18
01/23
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Options
Wayfair put volume heavy and directionally bearish »

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  • 22

    Feb

TWTR

Twitter

$22.84

-0.5 (-2.14%)

14:13
01/23/18
01/23
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Twitter analyst commentary  »

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AAPL

Apple

$177.00

-1.46 (-0.82%)

14:10
01/23/18
01/23
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01/23/18
14:10
Periodicals
KGI's Kuo says Apple's next iPhone to have no 3D touch, MacRumors reports »

Apple may launch a…

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  • 01

    Feb

SNE

Sony

$51.80

0.995 (1.96%)

14:10
01/23/18
01/23
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14:10
Downgrade
Sony rating change  »

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  • 25

    Jan

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General news
U.S. equities cooled off from record highs »

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BTC

Bitcoin

, BITCOIN

Bitcoin

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01/23/18
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Hot Stocks
Stripe says ending Bitcoin support »

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BTC

Bitcoin

BITCOIN

Bitcoin

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REG

Regency Centers

$64.46

0.15 (0.23%)

14:08
01/23/18
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  • 09

    Feb

TEVA

Teva

$20.80

-0.22 (-1.05%)

, JNJ

Johnson & Johnson

$142.63

-5.51 (-3.72%)

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TEVA

Teva

$20.80

-0.22 (-1.05%)

JNJ

Johnson & Johnson

$142.63

-5.51 (-3.72%)

ENDP

Endo

$7.31

0.2 (2.81%)

MCK

McKesson

$171.56

-1.405 (-0.81%)

CAH

Cardinal Health

$73.46

-0.05 (-0.07%)

ABC

AmerisourceBergen

$102.96

0.3 (0.29%)

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SHLD

Sears

$3.45

-0.18 (-4.96%)

14:05
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FOLD

Amicus

$15.97

0.07 (0.44%)

14:05
01/23/18
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Options
Amicus call volume above normal and directionally bullish »

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NSC

Norfolk Southern

$150.81

-0.66 (-0.44%)

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  • 24

    Jan

DIS

Disney

$110.10

-1 (-0.90%)

14:01
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  • 06

    Feb

JNJ

Johnson & Johnson

$142.74

-5.4 (-3.65%)

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  • 23

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NVS

Novartis

$87.03

0.03 (0.03%)

, CMCSA

Comcast

$42.89

0.39 (0.92%)

13:59
01/23/18
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Notable companies…

NVS

Novartis

$87.03

0.03 (0.03%)

CMCSA

Comcast

$42.89

0.39 (0.92%)

GE

General Electric

$16.87

0.7034 (4.35%)

UTX

United Technologies

$135.42

0.2064 (0.15%)

ABT

Abbott

$59.32

-0.2501 (-0.42%)

GD

General Dynamics

$207.58

-0.62 (-0.30%)

ITW

Illinois Tool Works

$172.75

-0.645 (-0.37%)

NSC

Norfolk Southern

$150.90

-0.57 (-0.38%)

BHGE

Baker Hughes

$35.81

0.26 (0.73%)

PGR

Progressive

$57.18

-1.04 (-1.79%)

RCL

Royal Caribbean

$127.33

-1.37 (-1.06%)

SWK

Stanley Black & Decker

$174.31

-0.92 (-0.53%)

ROK

Rockwell Automation

$206.01

2.075 (1.02%)

NTRS

Northern Trust

$107.43

0.94 (0.88%)

GWW

Grainger

$230.43

0.57 (0.25%)

ROL

Rollins

$47.90

0.02 (0.04%)

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  • 24

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TXN

Texas Instruments

$119.44

2.61 (2.23%)

, COF

Capital One

$105.09

-0.4 (-0.38%)

13:59
01/23/18
01/23
13:59
01/23/18
13:59
Earnings
Notable companies reporting after market close »

Notable companies…

TXN

Texas Instruments

$119.44

2.61 (2.23%)

COF

Capital One

$105.09

-0.4 (-0.38%)

UAL

United Continental

$77.39

0.52 (0.68%)

TSS

TSYS

$83.64

-0.11 (-0.13%)

NAVI

Navient

$13.52

-0.08 (-0.59%)

CREE

Cree

$36.69

0.4 (1.10%)

FUL

H.B. Fuller

$55.11

0.22 (0.40%)

03/08/13
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