UPDATE: National Alliance Reduces Target to $18.31 on Yelp on Risk/Reward
National Alliance reiterated its Market Perform rating on Yelp (NYSE: YELP) and lowered its price target from $24.35 to $18.61.
National Alliance noted, "We view the Company's near term share price risk / reward profile balancing neutral, with expected near term local advertising sales growth offset by a relatively rich valuation (trading 8X TTM revenue), limited mobile platform monetization, dilutive acquisition digestion, brand advertising weakness and competitive threats. We would look more favorably on the Company's risk / reward profile under $17 per share (reduced from $20 per share), where shares could find support at the $15 level (at risk)."
Yelp closed at $17.72 on Friday.
Latest Ratings for YELP
|Jun 2016||MKM Partners||Upgrades||Neutral||Buy|
|Jun 2016||Deutsche Bank||Upgrades||Hold||Buy|
|Jun 2016||Maxim Group||Initiates Coverage on||Buy|
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