Fastly price target raised to $10 from $8 at Citi

Citi analyst Fatima Boolani raised the firm’s price target on Fastly to $10 from $8 and keeps a Sell rating on the shares. The analyst updated models in systems software following the quarterly results. New business was “surprisingly robust” but expansion momentum came mixed, slowing for historically strong performers and contracting for others, the analyst tells investors in a research note.