Akamai Shares Rise 5.3% as Citigroup Lowers Price Target to $122
Akamai rose 5.3% to $111.22 despite Citigroup cutting its price target from $160 to $122 while keeping a Neutral rating. The $160-to-$122 cut signals a sizable retreat in expectations for Akamai’s content delivery and cloud services, yet investor buying suggests the stock may already price in near-term headwinds.