UPDATE: BMO Capital Markets Raises PT on LinkedIn Corporation on Continued Growth
In a report published Friday, BMO Capital Markets reiterated its Market Perform rating on Linkedin Corporation (NYSE: LNKD), and raised its price target from $115.00 to $130.00.
BMO Capital Markets noted, “A strong focus on new product rollouts in 2012 helped LinkedIn create a more engaging platform for users and a more useful one for recruiters. We believe LinkedIn is replacing job boards and other sources as the go-to source to find employees – something which should propel strong growth for the foreseeable future. In Marketing Solutions, we believe the distinction between tablets and smartphones and a focus on ‘content marketing' show impressive and improving sophistication, as the industry moves more toward a bifurcated view of mobile ads, and native advertising like content marketing get more attention. Management is taking a slow approach with Premium Subscriptions, however, long term we expect integration with multiple CRM platforms and see it as a valuable tool for sales people, a key user group for LinkedIn.”
LinkedIn Corporation closed on Thursday at $124.09.
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