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UPDATE: Stifel Initiates Coverage on Yelp on Strategic Asset Value, Low Penetration Rate

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In a report published Friday, Stifel analyst Michael Purcell initiated coverage on Yelp (NYSE: YELP) with a Buy rating and $85.00 price target.

In the report, Stifel noted, “Yelp has enhanced local business discovery, enabling users to find, connect and, more recently, transact with merchants. Consumers use Yelp to review a comprehensive database of businesses for opinions, reviews, and ratings. Yelp is clearly more than an online local directory. With over 115mn unique monthly visitors, we believe Yelp has strategic asset value in the Internet ecosystem and has an extremely low penetration rate against the addressable market of advertisers. We are initiating coverage with a Buy rating on the shares and a $85 target price.”

Yelp closed on Thursday at $67.25.

Latest Ratings for YELP

DateFirmActionFromTo
Oct 2014BarclaysMaintainsOverweight
Oct 2014CitigroupMaintainsBuy
Oct 2014JP MorganMaintainsOverweight

View More Analyst Ratings for YELP
View the Latest Analyst Ratings

Posted-In: Michael Purcell StifelAnalyst Color Initiation Analyst Ratings

 

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