Schaeffer's Trading Floor Blog

Analyst Update: Expedia Inc, LinkedIn Corp, and L-3 Communications Holdings, Inc.

Analysts adjusted their ratings on EXPE, LNKD, and LLL

by 8/1/2014 12:12 PM
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Analysts are weighing in today on travel website Expedia Inc (NASDAQ:EXPE), professional networking resource LinkedIn Corp (NYSE:LNKD), and aerospace contractor L-3 Communications Holdings, Inc. (NYSE:LLL). Here's a quick look at today's brokerage notes on EXPE, LNKD, and LLL.

  • EXPE has tacked on 5.7% to trade at $83.95 -- after earlier hitting a record high of $84.85 -- following last night's second-quarter earnings beat and a subsequent rush of bullish brokerage attention. Specifically, the shares received price-target hikes from no fewer than 13 firms -- including Ascendiant (to $95 from $90) and UBS (to $95 from $85) -- and an upgrade to "outperform" from "market perform" at Raymond James. Additional upgrades could be forthcoming on Expedia Inc, too, given its more than 70% year-over-year advance. Currently eight out of 15 covering analysts still maintain a tepid "hold" opinion of the stock.

  • LNKD is streaking higher around midday, up more than 9% at $197.41 after briefly exploring territory north of the double-century mark. The shares are benefiting from a successful turn in the earnings confessional, and no fewer than 18 price-target hikes, including those from Jefferies (to $300 from $280) and Piper Jaffray (to $282 from $270). Overall, however, it's been a rough year for LinkedIn Corp, which is down nearly 9% in 2014. Not surprisingly, short interest on the equity -- which represents 5.2% of its float -- is approaching levels not seen since in over 1.5 years.

  • LLL is receiving mixed attention from Wall Street, after yesterday firing four employees for misconduct related to an internal audit review. While Credit Suisse and RBC cut their respective price targets to $131 (from $145) and $113 (from $123), J.P. Morgan Securities raised its target to $140 from $135. Elsewhere, L-3 Communications Holdings, Inc. shares are up more than 2% today to hover near $107.12, bringing them back into the green on a year-to-date basis -- though the equity hasn't come close to recovering from yesterday's 12.3% loss. Broadly speaking, sentiment on LLL is mixed. For example, six out of 11 covering analysts have given the shares a "hold" rating (versus five "strong buys"); however, the stock's consensus 12-month price target of $127.42 stands at a significant premium to current trading levels.

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