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Akamai Technologies (AKAM) Stock Price Target Lowered at Keybanc

NEW YORK (TheStreet) -- Keybanc reduced its price target on Akamai Technologies (AKAM - Get Report) to $75 from $86 on Monday morning, but maintained its "overweight" rating on the stock.

The Cambridge, MA-based company is a provider of cloud services for delivering, optimizing and securing online content and business applications.

"While e-commerce improved quarter over quarter and produced solid year over year growth, the media traffic rate continued to weaken," the firm said in an analyst note.

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Although Keybanc is cautious on the fourth quarter due to media traffic trends and uncertainty surrounding first quarter guidance, it recommends building long-term positions. If traffic returns to more normalized levels, the firm believes it will be too late to own the stock.

Shares of Akamai Technologies close at $48.10 on...


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