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Why is LinkedIn (LNKD) Stock Up Today?

Madeleine Johnson
Updated

On Thursday, shares of professional social media network LinkedIn Corp. LNKD are rising, up almost 3% in morning trading after RBC Capital upgraded the company to “Outperform” from “Sector Perform.” The firm also gave a price target of $160 on LNKD stock, which suggests an approximate 20% upside to current levels.

For four years now, RBC surveys HR professionals in an analysis of comScore Web traffic trends for Online Recruitment properties and updates market opportunity analysis for Market Solutions. The firm concluded this year that LinkedIn is “reasonable well positioned against very large Recruitment and Advertising TAMs.”

RBC adds that LinkedIn “has a healthy and widening lead over competitors,” made clear by the comScore analysis, and that the updated marketing solutions analysis indicated “substantial growth [opportunities] ahead.”

Currently, Zacks ranks LinkedIn at a #3 (Hold) on the Zacks Rank.

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