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Analyst Upgrades: LinkedIn Corp (LNKD), Yelp Inc (YELP), and Pandora Media Inc (P)

Analysts upwardly revised their ratings on LNKD, YELP, and P

by 11/15/2013 8:49 AM
Stocks quoted in this article:

Analysts are weighing in today on Internet stocks LinkedIn Corp (NYSE:LNKD), Yelp Inc (NYSE:YELP), and Pandora Media Inc (NYSE:P). Here's a quick roundup of today's bullish brokerage notes.

  • LNKD -- which has more than doubled in value during the last 52 weeks to linger in the $221.44 neighborhood -- was initiated at Stifel Nicolaus with a "buy" endorsement late yesterday. Despite this vote of confidence, there are still a number of doubters among the brokerage bunch. The security currently maintains 13 "strong buys" and one "buy" recommendation, compared to 13 tepid "hold" suggestions. This leaves plenty of room for a round of upgrades down the road, which could help push LinkedIn Corp higher.

  • Analysts at Stifel Nicolaus also started coverage of YELP with a "buy" rating, which could help add to the stock's year-to-date gain of nearly 257%. Meanwhile, the equity's 50-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) put/call volume ratio of 0.74 is just 2 percentage points shy of a 12-month peak, meaning traders have been buying to open puts relative to calls at a near-annual-high pace. An unwinding of these bearish bets could add more fuel to Yelp Inc's tank. As of yesterday's close, the shares were docked at $67.25.

  • Up about 221% so far this year to trade at $29.47, P scored a price-target hike to $35 from $25 at J.P. Morgan Securities overnight. Elsewhere, the stock's Schaeffer's put/call open interest ratio (SOIR) of 0.90 ranks higher than 88% of similar readings taken during the past year, indicating near-term traders are more put-heavy toward P than usual. This bevy of put positions -- particularly at out-of-the-money strikes in the December series -- could end up translating into options-related support in the short term. Pandora Media Inc is slated to report quarterly earnings on Thursday, Nov. 21.

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