Topeka Sees Buying Opportunity in LinkedIn After Tech Selloff

LinkedIn is enjoying its second day of gains after receiving a glowing recommendation from Topeka Capital. The firm upgraded the professional social network to "buy" from "hold," arguing that the company can both beat and raise its earnings and sales estimates. The investment firm maintained a 12-month price target of $230. Analysts wrote that in light of the recent pullback in technology stocks, LinkedIn presents a buying opportunity, particularly given its long-term growth potential.