Jefferies Initiating Coverage on LinkedIn

Jefferies & Co. is out with a research report on LinkedIn (NASDAQ: LNKD) and is initiating coverage with a Hold rating and a $81 price target on shares.

In a note to clients, Jefferies & Co. writes, "Through a unique offering, LinkedIn is rapidly becoming the most effective platform for online recruiting on a global scale. While conservative guidance is likely to yield a series of "beat-and-raise" quarters out of the IPO gate, providing support to the stock short term, we find the current valuation full. Our $81 fair value reflects a healthy 26% revenue CAGR and 40% EBITDA margin over the next 10 years."

Shares of LNKD lost 95 cents on Friday to close at$76.48.