Barclays Maintains an 'Overweight' on LogMeIn (LOGM); Remain Buyers Post Investor Meetings

Barclays maintains an 'Overweight' on LogMeIn (NASDAQ: LOGM), PT $50.

Barclays analyst says, "We remain buyers of LogMeIn following series of investor meetings with management. We view shares as a compelling small-cap play on consumerization of IT, tablets, and mobility. While Ignition for iPad gets all the attention, we believe core remote connectivity & IT support businesses (93% of total revenue) remain underappreciated assets given 30% growth trajectory and ability to scale to 30%+ op margins. At 17x C12 FCF, we view shares as attractive relative to SAAS peer group, currently trading at 28x."

For more ratings news on LogMeIn click here and for the rating history of LogMeIn click here.

Shares of LogMeIn closed at $35.89 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• PVR Inox Ltd (PVRINOX:IN) PT Lowered to INR1,870 at HSBC
• Hanmi Financial (HAFC) PT Lowered to $18 at Keefe, Bruyette & Woods
• NBT Bancorp (NBTB) PT Lowered to $39 at Keefe, Bruyette & Woods