Akamai price target raised to $114 from $113 at Piper Sandler

Piper Sandler raised the firm’s price target on Akamai to $114 from $113 and keeps an Overweight rating on the shares. The analyst updated estimates following Akamai’s recent debt raise and StackPath acquisition announcement. Both of these events are accretive to Akamai, with the debt offering’s interest rate beneath current cash yields, the analyst tells investors in a research note.