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Fly News Breaks for February 8, 2018
GRUB, YELP
Feb 8, 2018 | 07:13 EDT
DA Davidson analyst Tom Forte kept his Buy rating and raised his price target on Yelp (YELP) to $53 from $51 after the company's Q1 earnings. Forte says he "buys in" to management's commentary that strategic investments that pressured EBITDA in the quarter complements the company's partnership with GrubHub (GRUB), which should increase the number of restaurants on the company's platform. The analyst is also positive on Yelp's "high margin self-service advertising platform and engagement-driving request-a-quote efforts", recommending that investors take advantage of this pullback that offers a "short-term discount".