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Schaeffer's Street Stories: Akamai Technologies Suffers a Pair of Downgrades


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Published in Science and Technology on Friday, January 16th 2009 at 8:56 GMT, Last Modified on 2009-01-16 08:56:48 by Market Wire   Print publication without navigation


CINCINNATI--([ BUSINESS WIRE ])--Akamai Technologies (NASDAQ: AKAM) is off to a rough start this morning following a pair of downgrades. First off, Broadpoint AmTech slashed its rating of the firm from "buy" to "neutral."

Meanwhile, Merrill Lynch joined in the fun as it lowered the stock from "buy" to "neutral" as well. The broker said e-commerce could be losing steam. "We expect competitive challenges and spending headwinds to persist in 2009 and offset the growing contributions of premium services and international expansion. Though valuation appears reasonable, we see few clear catalysts on the horizon, and prefer to await greater clarity on long-term growth and competitive dynamics," the broker said.

To continue reading this article, click here: [ http://www.schaeffersresearch.com/commentary/content/akamai+technologies+suffers+a+pair+of+downgrades/observations.aspx?click=home&ID=90571 ]


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