Fastly double upgraded to Buy at BofA on intermediate-term potential

As previously reported, BofA analyst Tal Liani double upgraded Fastly to Buy from Underperform with a price target of $16, up from $10.50. While short-term results could still fluctuate, the firm is focused on the potential value creation in the intermediate-term with new management aiming to expose the company’s "solid underlying foundations." Having taken steps to streamline the product portfolio, pricing and other aspects of the operation, the firm believes Fastly could see revenue growth reaccelerate and margins expand.