UPDATE: Bank of America Raises Price Target on LinkedIn from $92 to $108

Bank of America has published a report on LinkedIn LNKD raising the price target by $16. In the report, Bank of America wrote, "LinkedIn reported rev/non-GAAP EPS at $121mn/$0.10, above Street at $106mn/$(0.01) driven by upside across all three business segments. Revenue growth accelerated to 120% from 110% in 1Q, and while 3Q guidance suggests growth decelerates to 99% (at midpoint), the company continues to grow at a rate similar to Google's early post-IPO days (and our upside case model)." Bank of America rated LinkedIn a BUY with a price target raised from $92.00 to $108.00. LinkedIn closed Thursday at $13.95.