Posted by : Randy Cooper in (CDN)

Limelight Networks rallies after analyst upgrade

SAN FRANCISCO, Aug 07, 2008 (Thomson Financial via COMTEX) — LLNW | Quote | Chart | News | PowerRating — Shares of Limelight Networks Inc. rallied Wednesday after Jeffries & Co. upgraded the stock to buy from hold and said the company could see a big windfall from a contract to stream online video coverage of the Beijing Olympics Games, which open Friday. Limelight last week said it had locked in a deal with Microsoft and NBC to stream around 2,200 hours of live games coverage as well as around 3,000 hours of on-demand Olympiad-related replays, highlights, interviews and features, analyst Katherine Egbert said. The Tempe, Ariz.-based company might not have even figured wins from the Olympics streaming in its most recent guidance and could see revenue gains of 23 cents per on-demand viewing hour and another 36 cents per live streaming hour from the deal, Egbert said. She raised her price target on the stock to $6 from $4.

Source: http://www.tradingmarkets.com/.site/news/Stock%20News/1809377/

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