KeyBanc raised the firm’s price target on Akamai to $138 from $134 and keeps an Overweight rating on the shares. Entering the new year, KeyBanc sees many of the infrastructure trends that took rise in 2023 continuing in 2024, which should benefit infrastructure technology and software companies, the analyst tells investors in a research note. The firm says multi-cloud networking trends are positive for edge computing companies like Akamai and increased usage of GenAI services should increase the value proposition for edge compute networks.
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