Morgan Stanley Downgrading LinkedIn Corp

Morgan Stanley is out with a research report on LinkedIn Corp

and is downgrading the stock to Equal-Weight based on valuation. It has a $95 price target on shares. In the note, Morgan Stanley writes, "LinkedIn reported solid CQ2 results, as revenue outperformance was led by Hiring Solutions growth of +172% Y/Y. We are raising estimates for CQ3E and beyond due to strong business momentum, which raises our base case DCF to $110, but lowering our rating from OW to EW based solely on valuation. Despite its newly public status, LinkedIn is one of the highest-quality companies we follow." Shares of LNKD are up $4.48 in pre-market trading to $100.00.