Fastly price target lowered to $18 from $28 at BofA

BofA analyst Tal Liani lowered the firm’s price target on Fastly to $18 from $28 and keeps a Buy rating on the shares. Fastly management has made significant progress over the last twelve months, but “recovery is not linear” and the company still faces lingering headwinds to growth in the first half, says the analyst, who has lowered estimates and the firm’s multiple to reflect potential risk of headwinds to first half results.