SunTrust's Bob Peck Raises His Price Target on LinkedIn Following Q2 Earnings

Early Friday morning, SunTrust's Bob Peck has issued a report in which he raised his price target on LinkedIn

from $225 to $240 and reiterated a Buy rating on the stock. Peck commented, "We think LinkedIn is uniquely positioned to create a PaaS for professionals in the B2B and B2C markets." Looking forward, Peck has raised his 2014 revenue and EBITDA estimates from $2.11B and $518M to $2.16B and $551M, respectively. The Street appears to share Peck's optimism as shares of LinkedIn are up over eight percent in the pre-market session.