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 Send to email | Citi: Akamai Stock Expensive, Downgrades AKAM in AKAM |  By Silicon
el 19-May-2008 |
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 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.
See Also:
AT&T's CDN: Alive! Big Push Coming In Q3
Is AT&T's Akamai-Killing Content Delivery Business Vaporware?
Akamai's Q1 In Line With Expectations; Raises Earnings Guidance
Disclosure: Akamai competitor Panther Express is one of SAI's sister companies.
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| Akamai (AKAM) Analysts Pile On 'Buy' Ratings | | Akamai (AKAM) investors are finally getting a breather: Shares of the Internet content distribution firm are up 7% this morning -- trading around $30.25 -- after Piper Jaffray upgraded the stock to "buy" and Citigroup reissued its "buy [..] Read complete article | | Published 01-Apr-2008 by Silicon in AKAMGOOGLLNW
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Limelight Networks' next date in court with Akamai Technologies, which has -- so far -- been mostly victorious in their patent war: June 18 in Boston.
On tap: Federal Judge Rya Zobel will hea [..] 
