Business

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LogMeIn gets an ‘outperform’ rating

LogMeIn has ranged from $18.74 to $43.37 over a year.
Globe File Photo/2011
LogMeIn has ranged from $18.74 to $43.37 over a year.
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Northland Securities initiated analyst coverage of LogMeIn Inc. with an “outperform” rating and a price target of $28, or 25 percent higher than the stock’s closing price on Tuesday. The brokerage cited the Woburn company’s rapid growth and what it called a strong lineup of products for the coming year. LogMeIn is a provider of cloud-based services for remote access, device management, data management, customer care, and ­collaboration.