Akamai price target raised to $115 from $110 at Scotiabank

Scotiabank raised the firm’s price target on Akamai to $115 from $110 and keeps an Outperform rating on the shares. The company delivered “clean” Q2 results, beating across several key metrics and raising its guidance for FY24, the analyst tells investors. While delivery remains challenging, management reaffirmed the company’s guidance, the firm adds. Scotiabank argues the firm must string together several quarters of beats to show sustained positive improvements over the course of 2024.