Akamai initiated with an Underweight at KeyBanc

KeyBanc initiated coverage of Akamai (AKAM) with an Underweight rating and $63 price target The firm does not believe Akamai shares are expensive, but it sees more risk of negative catalysts than positive. The company operates in a “crowded field,” and pricing dynamics have a better chance to disappoint rather than surprise to the upside, the analyst tells investors in a research note.