Market Overview

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

Share:
Related YELP
13F Season: David Einhorn's New Positions
How To 'Fix' Governments: Just Look To Yelp And Google
Apple Building Siri-Based Rival To Amazon Echo (Investor's Business Daily)

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 2016Mizuho SecuritiesInitiates Coverage onNeutral
Mar 2016UBSDowngradesNeutralSell
Feb 2016Tigress FinancialUpgradesNeutralBuy

View More Analyst Ratings for YELP
View the Latest Analyst Ratings

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

 

Related Articles (YELP)

View Comments and Join the Discussion!