UPDATE: Sterne Agee Initiates LinkedIn Corporation at Neutral on Valuation
Sterne Agee initiated overage on LinkedIn Corporation (NYSE: LNKD) with a Neutral rating.
Sterne Agee commented, "We are positive on the company's fundamentals but believe the current stock price already reflects this enthusiasm. The stock is up 67% in the last 12 months, does not have a single Sell/Underperform rating and is already trading at a 59% /112% premium to its peer group based on EV to EBITDA (2014E) and EV to Sales (2014) bases, respectively. Given this valuation, we would look to be constructive on the stock on pullbacks."
LinkedIn Corporation closed at $119.02 on Friday.
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Tags: Sterne Agee