By Chris Dieterich
Look who’s suddenly more bullish on LinkedIn.
Analysts at J.P. Morgan and Morgan Stanley upgraded the stock to buy today, while Bank of America analysts bolstered their standing buy rating by raising 2012 earnings estimates.
All were underwriters of LinkedIn’s May IPO.
LinkedIn shares have suffered over the past month in part because the number of the company’s freely tradable shares roughly tripled, from about 8 million to 29 million, 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, saying: ”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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