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Fly News Breaks for February 5, 2016
LNKD
Feb 5, 2016 | 06:14 EDT
JPMorgan analyst Doug Anmuth downgraded LinkedIn to Neutral and removed the stock from his firm's Analyst Focus List after the company issued "significantly softer" Q1 and 2016 guidance. The outlook reflects deceleration in core Hiring Solutions, challenges in Marketing Solutions, the decision to phase out Lead Accelerator and macro/currency headwinds, Anmuth tells investors in a research note. The analyst believes LinkedIn's Sales Solutions offering may be taking longer than expected to build momentum. He cut his price target for the shares to $186 from $300. LinkedIn is trading down 30%, or $58.62, to $134.00 in pre-market trading.
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