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Fly News Breaks for October 25, 2016
FB, YELP
Oct 25, 2016 | 08:52 EDT
Roth Capital analyst Darren Aftahi believes Yelp (YELP) may continue its trend of outperformance in Q3. However, the analyst says Facebook's (FB) recent local feature expansion "spells trouble." He believes it signals a greater competitive risk for Yelp, and the likeliness few parties would want to acquire the company and compete head to head with Facebook. Aftahi reiterates a Sell rating on Yelp's stock and lowered his price target on the shares to $27 from $29.
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