Topeka Capital Upgrades LinkedIn (LNKD) to Buy
- Market Wrap: CPI Outpaces in Sept.; Regulus Ramps on RG-101 Data; AT&T Trims Outlook
- AT&T Inc (T) Misses Q3 EPS by 1c
- Yelp (YELP) Tops Q3 EPS by 2c; Issues Light Q4 Revs Outlook
- Johnson & Johnson (JNJ) CEO Looks to Have 250,000 Doses of Ebola Vaccine Available by May
- Regulus (RGLS) Data Presents Minimal Risk to Gilead (GILD), Baird Says; 'RG-101 Data Looks About as Competitive as Dead Interferons'
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Credit Suisse Upgrades Seaspan (SSW) to Neutral
- VMware (VMW) PT Trimmed at Oppenheimer Amid 'Mixed' Q3
- 3D Systems (DDD) PT Slashed to $44 at Needham & Company; 'Buy' Maintained
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!