UPDATE: UBS Investment Research Raises PT on LinkedIn on Valuation

In a report published Friday, UBS Investment Research analyst Eric J. Sheridan reiterated a Neutral rating on LinkedIn (NYSE: LNKD), and raised the price target from $180.00 to $230.00.

In the report, UBS Investment Research noted, “LinkedIn delivered a better than expected result, but for the second consecutive quarter the company is guiding both revenue & Adj EBITDA to below Street forward estimates (after a year of consecutive raises to levels above Street estimates). Given LinkedIn's full valuation multiples (~45x 2014 EBITDA) & recent outperformance (outperformed S&P ~80% YTD), we see little upside to the stock from current levels unless Street ests move higher from current levels.”

LinkedIn closed on Thursday at $228.80.