Akamai price target lowered to $83 from $85 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Akamai (AKAM) to $83 from $85 and keeps an Underweight rating on the shares. While the firm agrees with management’s long-term strategy to leverage its thousands of points-of-presence across the globe to expand into the security market, it notes that this strategy will require a sustained period of capex and opex investments to be successful before growth starts to improve meaningfully.