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Fly News Breaks for February 12, 2020
AKAM
Feb 12, 2020 | 09:11 EDT
JPMorgan analyst Sterling Auty raised his price target for Akamai Technologies to $110 from $106 and keeps an Overweight rating on the shares following the company's Q4 results. The strength in over-the-top launches like Disney+ "paid off in spades" for the December quarter, and stronger than anticipated e-commerce and good growth in security delivered the rest of the "impressive upside," Auty tells investors in a post-earnings research note. He believes 2020 is setting up to be a strong year for Akamai. The Summer Olympics and the presidential election present catalysts this year as the company's margins are set to hit the 30% target, says the analyst.