UPDATE: Piper Jaffray Raises PT on LinkedIn Corporation on Q4 Report

In a report published Friday, Piper Jaffray reiterated its Overweight rating on LinkedIn Corporation

, and raised its price target from $150.00 to $176.00. Piper Jaffray noted, “LinkedIn's Q4 report reinforces our initial thesis on the stock: that LinkedIn is still in the relatively early stages of fully monetizing its professional network asset and that the company has the path to continue to grow in the mid-double digit range for at least the next three years. We believe LinkedIn may provide one of the best, if not the best, growth profiles for the $10 billion + market cap companies under our coverage. As a result, we believe shares of LNKD will trade at a healthy multiple for the foreseeable future and deserve to trade at a larger premium than that already assigned. We are raising our price target on shares to $176 from our prior $150 target.” LinkedIn Corporation closed on Thursday at $124.09.