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Akamai Upgraded; Price Target Cuts for Autodesk, Aeropostale

8/28/15 11:12 AM EDT
JMP Securities is out with a bullish call on Akamai (AKAM), Canaccord Genuity cut its price target on shares of Autodesk (ADSK) and Jefferies slashed its target price on shares of teen apparel retailer Aeropostale (ARO). JMP Securities upgraded shares of Akamai Technologies to MARKET OUTPERFORM from MARKET PERFORM and added an $85 price target on the shares, that’s about a 21-percent upside from where they are currently trading. Jefferies said that Akamai is the leading content delivery network vendor where they have more than half of the market as clients. JMP also said Akamai is well positioned to take advantage of the burgeoning online and mobile video viewing trend. Akamai has also expanded its total available market significantly. Canaccord Genuity lowered its price target on shares of Autodesk. Canaccord said that as the company shifts to a cloud business model, the worse the legacy business starts to look. They also said the company is taking important steps that will evolve the business to a more predictable, higher-margin business. And, Jefferies said it is maintaining it’s hold rating on Aeropostale but lowered its price target for the shares from $2.50 to $1.25 each. Jefferies said that even though the teen retailer missed second quarter expectations, the company is clearing the decks and moving through old product to make way for new merchandise under its revamped strategy. But, Jefferies said it’s still too early to call a turn in the business.
Stocks in this video: AROAKAMADSK
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