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Fly News Breaks for April 24, 2018
YUM, GRUB
Apr 24, 2018 | 07:14 EDT
DA Davidson analyst Tom Forte raised his price target on GrubHub (GRUB) to $100 but kept his Neutral rating ahead of the company's Q1 earnings next week. Forte says that despite the upcoming challenges, such as "execution-related risks from GrubHub's newly-formed partnership with Yum! Brands (YUM)" and high investor expectations, the management's "near-flawless" execution warrants the price change. While the analyst is also raising his long-term target to $130, he bases his neutral stance over the near term on GrubHub's fair valuation.
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