Akamai price target raised to $112 from $105 at Citi

Citi raised the firm’s price target on Akamai to $112 from $105 and keeps a Neutral rating on the shares. The analyst is positive on Akamai acquiring select Lumen customer contracts and sees this development “stabilizing and perhaps even reversing delivery segment malaise,” while providing optionality for both incremental profitability and cross-sell into higher-margin products. The firm views the transaction terms as fair and says there is “at least 20%” customer overlap.