HSBC Downgrades Akamai Techs to Reduce, Lowers Price Target to $96
Portfolio Pulse from Benzinga Newsdesk
HSBC analyst Stephen Bersey downgraded Akamai Technologies (AKAM) from Hold to Reduce and lowered the price target from $109 to $96, indicating a bearish outlook on the stock.

February 15, 2024 | 10:40 am
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HSBC downgraded Akamai Technologies from Hold to Reduce and reduced the price target from $109 to $96.
The downgrade from Hold to Reduce by a major financial institution like HSBC, accompanied by a significant reduction in the price target, suggests a bearish outlook on Akamai Technologies. This could lead to a negative short-term impact on the stock price as investors and traders react to the analyst's revised expectations.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100