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  • jmcchen jmcchen Sep 18, 2013 9:00 AM Flag

    Yelp price target raised to 78 at Needeham

    Needham & Company analyst Kerry Rice boosted his price target on Buy-rated Yelp (NYSE: YELP) from $52 to $78 after hosted a group investor meeting with CFO Rob Krolik. The firm came away from the meeting feeling confident in the company's execution plan.
    "We believe the market opportunity open to Yelp is very substantial and that the company is only in early innings of executing on its road-map. While valuation remains steep, we believe it is justified given the potential for top-of-the-class growth for years to come."
    Items highlighted include: New services and partnerships provide major opportunities; Call to Action provides rich data and could enable new pricing scheme; CPC offering growing rapidly; SeatMe complementary to OpenTable offering
    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 $65.92 yesterday, with a 52 week range of $16.32-$66.24.
    Copyright 2013, Street Insider News Provided by Acquire Media Corporation

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