Morgan Stanley Downgrades LinkedIn, Slashes Price Target by 34 Percent
More downgrades for a battered stock.
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"Why we were wrong" isn't a phrase one might want to include when sending out a note to clients, but it's what Morgan Stanley analysts were forced to deploy on Wednesday morning as they downgraded LinkedIn Corp.
The shift from "overweight' to "equalweight," is the latest in a series of cuts for LinkedIn after it reported lackluster earnings last month that sent shares tumbling by more than 40 percent the following day.