UPDATE: Citi Upgrades LinkedIn

According to a research report published this morning, Citi has upgraded LinkedIn LNKD from Neutral to Buy. In the report, Citi commented, "Through 4 quarters as a public company (and several years as a company), LNKD has delivered consistent and impressive results – 7 consecutive quarters of 100%+ Revenue growth, 8 consecutive quarters of 100%+ Corporate Customer growth, close to 20% EBITDA margins for 2 years. Just as important, LNKD's end-markets penetration remains low -- $900MM in '12 Revenue vs. a $300B Global Staffing market." Citi maintains its $125 PT on LinkedIn, which closed yesterday at $97.71.