UPDATE: BGC Partners Initiates Coverage on Linkedin

In a report published on Tuesday, BGC Partners analyst Colin W. Gillis initiated coverage on LinkedIn (NYSE: LNKD) with a Buy rating and price target of $225.

In the report, BGC Partners noted, "LinkedIn is the professional identity on the Internet for over 225M users and has secured its position as the premier online business network...The company is adding over two new users each second, has a diverse set of revenue streams, and we suspect that given time the business network may prove more valuable than the social network."

LinkedIn closed Monday at $182.31.