UPDATE: Bank of America Lowers Price Objective on LinkedIn on Future Investing and Decelerating Growth

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In a report published Friday, Bank of America analyst Justin Post lowered the price objective on LinkedIn (NYSE: LNKD) from $240 to $232. In spite of solid 4Q Rev/EPS, Justin Post anticipates that the plan to invest in 2014 will lead to some overhang and pause EBITDA margin growth.According to Bank of America, "While we believe the company could continue to deliver modest upside to guidance and our estimates, decelerating growth on higher LCS penetration and a relatively high valuation multiple (9x 2015E EV/sales, 85x 2015E EPS at the $205 after hoursprice) and may keep the stock range bound. We are lowering our price objective to $232 from $240, based on 10x 2015E EV/Sales."On Thursday, LinkedIn closed at $223.45.

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