In a note released Thursday morning, Deutsche Bank analyst Lloyd Walmsley suggested investors build their long-term position in Yelp Inc YELP amid the weakness following the company's third quarter earnings report.
Walmsley commented, "We think investors are over reacting to disappointing short-term headline figures and ignoring some obvious explanations and bullish long term signs."
Walmsley rates Yelp a Buy with a $75 price target.
Looking ahead, Walmsley said the key risks to his price target include: dependence on Google for traffic, high/increased competition and failure to ramp transactional business.
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