Jefferies downgraded Akamai Technologies AKAM from Buy to Hold and lowered the price target from $44.00 to $40.00.
Jefferies said, "AKAM plans to increase reinvestments well ahead of Street forecasts across both sales distribution and R&D. We had been concerned with the likely revenue growth deceleration in CY13 and now with a margin profile that is also likely to contract, we believe the shares will be range bound in the interim. As such
we are moving to a Hold."
Akamai Technologies closed at $41.58 on Wednesday.
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