Topeka Capital Upgrades LinkedIn (LNKD) to Buy
- Market Wrap: Apple Loses Ban Appeal vs Samsung; Alibaba Reports Improved Profit; Tiffany Shines in Q2
- After-Hours Stock Movers 8/27: (CREG) (CCUR) (FEYE) Higher; (GOMO) (WSM) (GES) Lower (more...)
- Guess?, Inc. (GES) Misses Q2 EPS by 3c; Cuts FY15 Outlook
- Apple (AAPL) Could Deliver BIG at September Event with iWatch and 2 iPhone Models
- Williams-Sonoma, Inc. (WSM) Reports In-Line Q2 EPS; Guides FY14 EPS Below Expectations
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: UBS Upgrades Aruba Networks (ARUN) to Buy
- UPDATE: Credit Suisse Sees Opportunity for Change at US Steel (X); Stock Upraded to Outperform
- Cannaccord Lifts PT on Tiffany (TIF) to $95; Comps, Gross Margin Drive Solid Q2 Results
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!