This morning, FBR initiated coverage on shares of LinkedIn (LNKD) with a market perform rating noting that growth could be exciting, but the stock is already trading at a P/E ratio of 104 based on 2014 earnings estimates. In the report, FBR set a $214 price target. Shares of LinkedIn were looking to open higher on the news.
Deutsche Bank upgraded shares of Rayonier (NYSE:RYN) from sell to hold as the stock price is already pricing in lower specialty cellulose pricing. With the upgrade, Deutsche Bank set a $47 price target.
Credit Suisse upgraded shares of Advanced Auto Parts (NYSE:AAP) from neutral to outperform as synergies from mergers could benefit earnings. In the report, Credit Suisse set a $130 price target.
And FBR initiated coverage on shares of Facebook (FB) with an outperform rating as opportunities ahead warrant a higher earnings multiple. With the outperform rating, FBR set a $60 price target. Shares of Facebook were headed higher on Thursday morning.
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