Wunderlich Securities Sees Chinese Language Site Beta as Good Entry Point for LinkedIn
In a report published Tuesday, Wunderlich Securities analyst Blake T. Harper reiterated a Buy rating and $280.00 price target on LinkedIn (NYSE: LNKD).
In the report, Wunderlich Securities noted, “LinkedIn announced that it has launched a beta Simplified Chinese language site and will attempt to broaden its reach from its 4 million current Chinese members to the 140 million Chinese knowledge workers. The move follows the recent hiring of a President of China, Derek Shen, as well as several years of investments and deliberation. We would also expect the company to step up its investments in hiring and operations within the country this year to address the world's largest Internet market and second largest economy.”
LinkedIn closed on Monday at $199.59.
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