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UPDATE: Cantor Fitzgerald Upgrades Yelp to Buy on Sell-Off Opportunity

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Cantor Fitzgerald raised its rating on Yelp (NYSE: YELP) from Hold to Buy with a $24 price target.

Cantor Fitzgerald noted, "We are upgrading YELP shares to BUY while maintaining a $24 target, following a 20%+ price decline since 3Q:12 results (11/1/12.) The selloff was precipitated, in our view, by disappointing 4Q guidance relating to display advertising and not to the core Local Ad business. Yelp's brand, scale and strong network effect make it a clear beneficiary of the secular migration of local ad dollars online, in our opinion."

Yelp closed at $18.99 on Monday.

Latest Ratings for YELP

DateFirmActionFromTo
Mar 2015AxiomInitiates Coverage onHold
Feb 2015Morgan StanleyInitiates Coverage onOverweight
Feb 2015RosenblattInitiates Coverage onBuy

View More Analyst Ratings for YELP
View the Latest Analyst Ratings

Posted-In: Cantor FitzgeraldAnalyst Color Upgrades Pre-Market Outlook Analyst Ratings

 

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