Bank of America Maintains Buy on LinkedIn With 2012 Outlook

Bank of America has published a research report on LinkedIn LNKD forecasting the company's outlook for 2012. In the report, Bank of America writes, "For 2012 we are lower than the Street on 2012 revenue, and higher on EPS at $811mn/$0.57 vs. $828mn/$0.52. We expect margin leverage in 2012, [benefiting] from technology and global sales force investments in 2011. We expect a solid 4Q based on our job postings count at 87K, up 18% Q/Q QTD from 76K at end of 3Q. For 4Q we are at revs/EPS of $158mn/$0.07 vs street at $160mn/$0.05 and see upside potential as 4Q last year was up 32% q/q and our model (our $158mn in revenue is at top end of 4Q guidance) has a conservative 13% q/q estimate." Bank of America maintains its Buy rating and $92 price objective on LinkedIn, which is currently trading down $0.70 from yesterday's $64.13 closing price.