Akamai upgraded to Outperform from Neutral at Macquarie Macquarie upgraded Akamai to Outperform based on revised 2H consensus margin forecasts and meetings with CDN competitors. The upgrade is not a call on the Q2 report but a longer-term call that media delivery revenue growth could grow in the mid-teens for the next few years driven by increased volumes from HD sporting and other content. Price target raised to $70 from $59.
Akamai should be bought on any weakness, says RW Baird Baird said investors should be opportunistic buyers on any weakness in Akamai, as the firm's conviction in the strength and drivers of the company's underlying trends were solidified following meetings with management. Baird reiterated its Outperform rating and $71 price target on Akamai shares.