Topeka Capital Upgrades LinkedIn (LNKD) to Buy
- CDC confirms first Ebola case diagnosed in the U.S. (TKMR)
- Market Wrap: eBay to Unload PayPal; Ebola Confirmed in U.S.; Microsoft Reveals Next Key Product
- Angie's List (ANGI) Hires Bankers to Explore Possible Sale - FT
- Freddie Mac (FMCC), Fannie Mae (FNMA) investors suit against U.S. thrown out - Bloomberg
- After-Hours Stock Movers 9/30: (ANGI) (TKMR) (NLNK) Higher; (WPRT) (ASEI) (RGSE) Lower (more...)
Topeka Capital upgraded LinkedIn (NYSE: LNKD) from Hold to Buy while maintaining their price target of $230, citing an opportunity among the carnage.
Analyst Victor Anthony comments, "We believe investor concerns regarding weaker than expected 2014 EBITDA guidance, weak 3rd party traffic data, slowing enterprise net adds, and slowing job postings growth, are priced in at current levels. The shares now offer a compelling entry point, with approximately 35% upside to our price target. Near-term, we see 1Q14 results topping consensus estimates against conservative revenue and EBITDA guidance, with a likely increase in full year guidance - Beat & Raise. Longer-term we see LinkedIn benefiting financially from investments in R&D, Sales Solutions, Sponsored content, and China. The current broader pullback in Internet stocks has impacted LinkedIn disproportionately, in our view."
Shares of LinkedIn closed at $169.10 yesterday.
You May Also Be Interested In
- UPDATE: Credit Suisse Upgrades NiSource (NI) to Outperform
- BofA/Merrill Lynch Upgrades Alcoa (AA) to Buy on Cash Flow Recovery
- Piper Jaffray Upgrades Mellanox Technologies (MLNX) to Overweight
Create E-mail Alert Related CategoriesAnalyst Comments, Hot Upgrades, Upgrades
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!