UPDATE: Stifel Initiates Coverage on LinkedIn on Pivotal Role in Business World

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In a report published Friday, Stifel analyst Michael Purcell initiated coverage on

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LinkedIn Corp.

(NYSE: LNKD) with a Buy rating and $300.00 price target.In the report, Stifel noted, “LinkedIn is the largest global professional network; yet, it is not just a network. LinkedIn is evolving into a critical daily or weekly platform for professional workers of all types, globally. It is the central point for career management and enhancement. The quality, efficacy, size, and utility of LinkedIn's global platform creates an invaluable professional resource, in our judgment. We believe LinkedIn will remain pivotal in the increasingly complex forces of global business expansion and labor. We are initiating coverage with a Buy rating and $300 target price.”LinkedIn Corp. closed on Thursday at $221.44.