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