Upbeat analyst ratings give LinkedIn a boost

Shares of LinkedIn Corp. got a boost Tuesday after two major investment firms started coverage of the online professional networking service upbeat about its prospects just five weeks after its initial public offering.

THE SPARK: JPMorgan, which has been an underwriter for its IPO, started coverage with an "Overweight" rating and a target price of $85. UBS ( UBS - news - people ), another one of the IPO's underwriters, started LinkedIn with a "Buy" rating and a $90 target price.

"Shares are trading 70 (percent) above the recent IPO price, but we believe LinkedIn is disrupting both the online and offline job recruitment markets, and deeper corporate penetration and increasing member engagement will drive strong results over the next few years," JPMorgan analyst Doug Anmuth said in a note to investors.

Read Full Article from Forbes

- Posted: 2011-06-28 12:20:47

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