Akamai initiated with a Buy at BofA

BofA analyst Madeline Brooks initiated coverage of Akamai with a Buy rating and $145 price target. The company, which was founded as a Content Delivery Networking, or CDN, company, has expanded into complementary areas like web security, edge compute and most recently distributed compute, the analyst tells investors. BofA sees potential upside from multiple expansion as well as revenue growth acceleration and margin expansion, the analyst tells investors.