BUZZ-Akamai gains; BofA upgrades to 'buy' on cloud deal
Akamai Technologies
Akamai Technologies AKAM | 0.00 |
** Cloud firm Akamai's AKAM.O shares rise 6.2% to $158.90
** BofA Global Research upgrades to "buy" from "hold"; raises price objective to $175 from $130, implying 17% upside to stock's last close
** Brokerage expects $1.8 bln cloud deal to add $20 mln to $25 mln in revenue per quarter to co's cloud infrastructure services segment starting in Q4
** Revenue growth expected to accelerate as CIS and security segments offset weakness in co's content delivery business, BofA says
** Average rating of 26 analysts is "buy;" their median PT is $160 - data compiled by LSEG
** Stock has risen 82.1% YTD
