Edgio (EGIO) PT Raised to $5.75 at Cowen

Cowen analyst Michael Elias raised the price target on Edgio (NASDAQ: EGIO) to $5.75 (from $5.00) while maintaining a Outperform rating.

The analyst commented, "EGIO reported mixed 2Q22 results updated its 2022 guidance to reflect its Edgecast acquisition and provided preliminary 2023 revenue/EBITDA guidance. We are encouraged by EGIO s continued momentum and believe its upcoming Analyst Day could serve as a catalyst for the stock as it should provide investors a clear strategic/financial roadmap to evaluate its performance against."

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