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Fly News Breaks for March 29, 2016
EBAY, LNKD
Mar 29, 2016 | 05:46 EDT
Barclays analyst Paul Vogel downgraded LinkedIn (LNKD) to Equal Weight saying the multiple investors are willing to pay for the shares "should come down materially" with the company's revenue growth slowing more than expected. LinkedIn is challenging to value on traditional metrics, and most pro forma numbers are not favorable, even when backing out stock comp and other non-cash charges, Vogel tells investors in a research note. The analyst still believes in LinkedIn's platform longer-term, but says growth will be slower. He cut his price target for the shares to $130 from $205. The professional network closed yesterday down $1.85 to $109.18. Vogel this morning also downgraded eBay (EBAY) to Underweight from Equal Weight.