Yelp upgraded to Buy from Neutral at Goldman Sachs

Goldman Sachs analyst Eric Sheridan upgraded Yelp to Buy from Neutral with a price target of $47, up from $39. The analyst sees a “broadly stable-to-improving environment” for digital advertising in Q2 against lowered expectations. Yelp is upgraded on the back of stable-to-rising local advertising trends, an analysis of the company’s incremental margin opportunity and the potential for stable-to-increased shareholder returns in the years ahead, the analyst tells investors in a research note.