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Fly News Breaks for February 12, 2020
AKAM
Feb 12, 2020 | 08:54 EDT
Needham analyst Alex Henderson raised his price target on Akamai to $112 and kept his Buy rating after its Q4 earnings beat and above-consensus guidance for FY20. The analyst says the quarter was driven by expanding gross margins and better international operations, noting that the company stands to benefit from stronger global demand this year as well given the elections and Olympics. With "strong content growth" expected in FY20, Henderson also raises his FY20 EPS view by 19c to $4.79.
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