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Fly News Breaks for April 30, 2015
YELP
Apr 30, 2015 | 06:37 EDT
Citigroup lowered its price target for Yelp to $54 from $67 but says the company's Q1 results are "not all that bad." Revenue came in 1% below estimates on softness in non-core Display ad revenue while total organic revenue growth was still over 50% year-over-year, Citi points out. The firm still sees the long-term potential of Yelp’s local content and community and keeps a Buy rating on the name.