Wunderlich Securities Initiates Coverage On LogMeIn With Buy Rating

According to Wunderlich Securities, LogMeIn

coverage is initiated with a Buy rating. Wunderlich Securities said that it is initiating coverage of LogMeIn, Inc. (

) with a Buy rating and $47.00 price target. “We view a 7x revenue multiple as fair, which applied to year-out forecasts yields our $47.00 target.” LogMeIn closed yesterday at $29.73.