growth profile: At least seven brokerages downgraded the stock from buy to hold or their equivalents, saying the company lofty valuation was no longer justified, according to The Guardian. With a lower growth profile, we believe that Linked In should not enjoy the premium multiple it has grown accustomed to, Mizuho Securities USA Inc analysts wrote in a note. The stock sank to a three-year low of $110.01 in early trading, registering its sharpest decline since the company high-profile public listing in 2011. Mizuho downgraded the stock to neutral and slashed its target price to $150 from $258. At least 22 brokerages cut their price targets on the stock, with RBC slashing its target by almost half to $156. Raymond James, Cowen and Co, BMO Capital Markets, JP Morgan Securities, RBC Capital Markets and Suntrust Robinson also downgraded the stock.
(news.financializer.com). As
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