RBC Capital Maintains Sector Perform on Akamai Techs, Lowers Price Target to $92
Portfolio Pulse from Benzinga Newsdesk
RBC Capital analyst Mark Mahaney has maintained a 'Sector Perform' rating on Akamai Technologies (AKAM) but has lowered the price target from $115 to $92.
May 10, 2024 | 3:29 pm
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RBC Capital's adjustment of Akamai Technologies' price target from $115 to $92, while maintaining a 'Sector Perform' rating, reflects a cautious but not bearish outlook on the stock.
The lowering of the price target by RBC Capital suggests a revised expectation of Akamai Technologies' stock performance, potentially due to underlying challenges or market conditions. However, maintaining a 'Sector Perform' rating indicates that the analyst does not foresee significant underperformance relative to the sector. This adjustment could lead to short-term negative sentiment among investors, pressuring the stock price.
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