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Fly News Breaks for September 6, 2017
GRUB, YELP
Sep 6, 2017 | 07:22 EDT
KeyBanc analyst Brad Erickson raised his price target for Yelp to $54 from $50 after conversations with both Yelp (YELP) and GrubHub (GRUB), given his increased confidence in the benefits of the partnership. The analyst views Yelp's role in online food ordering as incrementally more sustainable and has higher conviction that core local ad forecasts remain conservative, which is still not reflected in the stock. Erickson remains a buyer of Yelp and reiterates an Overweight rating on its stock.
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