Canaccord Genuity Maintains a 'Buy' on LinkedIn (LNKD); Strong Q2 and Increased Outlook

August 3, 2012 9:58 AM EDT Send to a Friend
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Price: $175.42 --0%

Rating Summary:
    28 Buy, 13 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Canaccord Genuity maintains a 'Buy' on LinkedIn (NYSE: LNKD) price target of $135.00.

Analyst, Michael Graham, said, "Strong Q2 results with broad-based upside. Profitability was impressive, and management raised guidance emphatically. Beyond a couple of small speed-bumps for Q3 and Q4 (temporarily high expenses and tax rate), we believe the outlook is bright...For 2012, we raise our revenue estimate by 3%. Due to mostly temporary expense increases and a temporarily high tax rate, we lower our 2012 EPS estimate from $0.72 to $0.59. Our 2013 EPS estimate is unchanged but reflects higher margin offset by a higher tax rate as LinkedIn continues to work through early stages of its international tax strategy."

For an analyst ratings summary and ratings history on LinkedIn click here. For more ratings news on LinkedIn click here.

Shares of LinkedIn closed at $93.51 yesterday.




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