Wells Fargo raised the firm’s price target on Yelp to $50 from $41 and keeps an Equal Weight rating on the shares. With consistent execution on its product-led strategy and focus on efficiencies, Yelp delivered another quarter of new revenue and profitability records, the firm notes. Wells remains concerned with a soft/uncertain macro backdrop and stays on the sidelines.
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Read More on YELP:
- Yelp reports Q3 EPS 79c, consensus 35c
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- Yelp upgraded to Neutral from Underweight at JPMorgan
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