Piper Jaffray Raises Akamai PT From $49 To $54

Piper Jaffray maintains its Neutral rating and is raising its Akamai Technologies, Inc. (NASDAQ: AKAM) PT from $49 to $54, using an increased multiple of 33x (vs. previous multiple of 30x) CY11E EPS.

“The slight uptick in target multiple takes into account the increased visibility in results over the last several quarters and improving industry tailwinds,” Piper Jaffray writes.

Akamai closed Monday at $52.91.