Tuesday, December 6, 2011

IPO Underwriters More Bullish On LinkedIn

 Look who's more bullish on LinkedIn (LNKD). JPMorgan and Morgan Stanley upgrade the stock to buy, while BofA piles onto its buy rating by raise 2012 earnings estimates. All were underwriters of LinkedIn's May IPO. LNKD has suffered over the last month in part because its freely tradable shares roughly tripled, from about 8M to 29M, after a secondary offering and the expiration of a prohibition that bars employees and some early investors from selling shares. Morgan Stanley sets the Street's tallest price target at $100: "We see this weakness as a buying opportunity as the company appears to be firing on all cylinders in each of its three business segments." 



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