UPDATE: Morgan Stanley Raises PT to $115 on LinkedIn
Morgan Stanley increases its price target from $105 to $115 on Overweight-rated LinkedIn (NASDAQ: LNKD) as sales efficiencies should lead to upside in margins.
Morgan Stanley notes, "After analyzing LinkedIn's sales force efficiency, we believe the company has deftly navigated a period of heavy headcount onboarding with minimal drag on productivity. Our base case margin for C'12/13E exceed our bull case at initiation, and we are raising our long-term EBITDA margins by 300bps."
LNKD closed at $97.66 on Wednesday.
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