MKM Partners Raises Price Target on Yelp (YELP) to $48; Reiterates Buy
- Wall St. reverses course as discretionary, industrials weigh
- Twitter (TWTR) Tops Q3 EPS by 4c; Announces Restructuring, Workforce Reduction
- Qualcomm (QCOM) to Acquire NXP Semi (NXPI) in $47B Deal
- Tesla (TSLA) Posts Q3 adj.-EPS of 71c
- Pre-Open Stock Movers 10/27: (PRQR) (OCN) (TWTR) Higher; (CYH) (GNC) (RNWK) Lower (more...)
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
MKM Partners reiterated a Buy rating on Yelp (NYSE: YELP), and raised the price target to $48.00 (from $40.00), with the belief that the company is firmly on track.
Analyst Rob Sanderson commented, "We are making slight adjustments to our forecast for YELP (full year EBITDA slightly higher, revenue inline) and raising our 12-month price target to $48 per share (from $40 previously). We believe a large opportunity remains open for YELP and are encouraged by three quarters of solid execution. We think that continued high growth and a valuation below peer companies should make mid-cap growth managers come back to the stock after two years of disappointment. Reiterate Buy."
Shares of Yelp closed at $37.62 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Rosenblatt Upgrades NETGEAR (NTGR) to Buy
- Jefferies Raises Price Target on VMware (VMW) to $91 Following Better Than Expected 3Q
- Drexel Hamilton Raises Price Target on VMware (VMW) Following 3Q
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!