Good morning. Here’s your daily roundup of equity research from the Street. Citi:
LinkedIn (LNKD): Analyst Mark Mahaney upgraded LinkedIn to buy from neutral after a 20 per cent fall. The upgrade also comes as a result of LinkedIn’s strong execution, positive survey results from users, and growing job postings. Price target is $125.
Research In Motion (RIMM): Analyst Peter Misek describes RIM as going “from bad to worse”, a rating of underperform is reiterated, and the price target is reduced to $10 from $12. The company pre-announced an operating loss for Q1, and Q2 is likely to be worse ahead of a likely October release of the Blackberry 10.
Madison Square Garden (MSG): Price target raised to $43 from $36 on higher than expected media revenue. Morgan Stanley remains above consensus, and expects continued growth in those revenues and expects 20 per cent growth in EBITDA to continue through 2014.
DIRECTV Group: (DTV.O): The company is facing headwinds in Latin America, particularly from the weakening Brazilian Real. Should the real fall below its current exchange rate with the dollar, earnings from the region could drop below guidance. UBS’s earnings forecast for 2013 is reduced to $5.06.
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