Cowen Remains Bullish as Yelp (YELP) has 'Temporarily Decided Not to Pursue a Sale'

Cowen reiterates an Outperform rating and $55.00 price target on Yelp (NYSE: YELP) following reports that Yelp has "temporarily decided not to pursue a sale". Analyst Kevin Kopelman expects that focus will return to fundamental drivers.

Kopelman commented, "With a buyout premium gone, we expect focus to return to fundamental drivers. The news may be a positive sign for Q2, as Yelp would face more pressure to sell if business were deteriorating. We think shares reflect (1) an early '15 slip-up, already overcome, and (2) '15E margin compression that is likely to reverse in '16. Valuation of 4.8X EV/S is attractive on both current growth and LT outlook."

For an analyst ratings summary and ratings history on Yelp click here. For more ratings news on Yelp click here.

Shares of Yelp closed at $38.18 yesterday.

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