UPDATE: Morgan Stanley Initiates Coverage On LinkedIn As Earnings Power Is Still Underappreciated

In a report published Thursday, Morgan Stanley analyst Brian Nowak initiated coverage on

with an Overweight rating and $310.00 price target. In the report, Morgan Stanley noted, "LNKD's earnings power is still underappreciated as our proprietary industry-level large enterprise analysis shows the Talent Solutions (TS) runway is still very long. And we see Marketing Solutions becoming the FB for professional advertising. More top-line beats and margin expansion likely ahead." LinkedIn closed on Wednesday at $269.00.