Posted by : Randy Cooper in (CDN)
Citi: Akamai Stock Expensive, Downgrades AKAM
Content delivery network Akamai Technologies (AKAM) is still a “core Internet stock,” but it’s not cheap enough to buy, says Citi analyst Mike Mahaney, who downgraded the stock to “hold” this morning. Shares closed Friday at $40.33, within 4% of Citi’s $42 price target. Mahaney says Akamai’s profit growth can support its current valuation — “but not one materially higher.” He says buy AKAM at $35 or below. Shares dropped 1.4% this morning to $39.77.
Please take time to read Dan Rayburn’s response to this article as he brings up some very good points.
Source: http://blog.streamingmedia.com/the_business_of_online_vi/2008/05/goldman-has-it.html
Goldman: Sell Akamai (AKAM) Now
Source:
http://www.alleyinsider.com/2008/5/goldman_sell_akamai_akam_now
http://nobosh.com/s/goldman-sell-akamai-akam-now/66005/
May 22 (Reuters) – Goldman Sachs downgraded Akamai Technologies (AKAM.O: Quote, Profile, Research) to “sell” from “neutral” and added the company’s shares to its Americas Sell List on concerns that increasing competition could hurt the provider of Web acceleration services, sending the shares down 9 percent.
Source: http://www.reuters.com/article/marketsNews/idUSBNG23646620080522
Motley Fool agrees with Dan Rayburn…
Source: http://www.fool.com/investing/high-growth/2008/05/23/goldman-gets-akamai-wrong.aspx