Credit Suisse downgrades Akamai to Neutral after 29% rally - InvestingChannel

Credit Suisse downgrades Akamai to Neutral after 29% rally

Credit Suisse analyst Brad Zelnick downgraded Akamai Technologies to Neutral from Outperform and lowered his price target for the shares to $84 from $88. The shares closed Friday down $2.18 to $74.66. With the stock up 29% since Elliott Management’s disclosure of a stake on December 15, 2017, many of the catalysts have played out, Zelnick tells investors in a research note. The analyst views the stock’s risk/reward as “increasingly balanced” at current levels. Further, he thinks “forthcoming headwinds may overshadow longer-term upside potential and challenge investors’ confidence near term.” Zelnick sees near-term headwinds coming from difficult comparisons in 2019 and continued momentum among asset-light competitors like Fastly and Cloudflare.

Related posts

Carl Icahn Increases His Stake In Take-Two Interactive To 10.68%

ValueWalk

iPad Mini Display Outperformed By Kindle Fire HD & Nexus 7

ValueWalk

Foxconn Might Open Manufacturing Plants In The U.S. [REPORT]

ValueWalk

Peter Cundill Protégé Tim McElvaine on Investing in Japan [VIDEO]

ValueWalk

Set Bing Home Page Image As Lock Screen In Windows 8

ValueWalk

Morning Market News: JCP, APO, MCHP, ZIP, ENR, LGF, EA, ATVI, COV, LNT

ValueWalk