UPDATE: Wunderlich Securities Initiates LinkedIn Corporation to Buy on Long-Term Growth

Wunderlich Securities initiated coverage on LinkedIn Corporation

with a Buy rating and a $195.00 price target. Wunderlich Securities said, "We believe LinkedIn has become the marquee platform for companies and professionals to engage with each other and build brands. The company's Recruiter product and broader Talent Solutions platform have become extremely valuable for recruiters. We view LinkedIn with a very large competitive moat around its platform given strong network effects, a highly visible revenue stream, and the ability to rapidly innovate with new products. While the stock is trading at a premium to peers (11.6x EV/S for 2013 estimates), we believe the growth opportunities and strong execution should enable more beat and raises throughout the year to drive the stock higher." LinkedIn Corporation closed at $157.77 on Tuesday.