Wunderlich Tells Investors to Buy the Dip in LinkedIn Shares
Shares of LinkedIn (NASDAQ: LNKD) continuing higher to close this week's trading session following a nice rally this week. Traders are attributing strength in the name to a bullish note from Wunderlich's Blake Harper earlier.
The stock last traded at $217.13, up about 1 percent for the session; shares have now rallied nearly 10 percent this week.
Harper believes a pullback in the company's stock price since the highs set in late September has created a buying opportunity. The analyst is still views LinkedIn as well-positioned moving into 2014, citing talent, marketing and sales products which he expects to add "substantial value" for users. Harper is expecting an increase to 44 percent in the company's three-year sales CAGR estimate.
The Wunderlich analyst currently rates shares of LinkedIn with a Buy rating and $280 price target. Based on the action in the stock Friday, Harper's price target represents potential upside of nearly 30 percent.
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