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Fly News Breaks for July 6, 2015
YELP
Jul 6, 2015 | 05:56 EDT
Piper Jaffray analyst Gene Munster lowered his price target for shares of Yelp to $40 saying the company is still one quarter away from fundamentals stabilizing. Further, Munster believes investors will reduce the takeout premium in the stock after Bloomberg reported Thursday that Yelp had called off its sale process. He keeps a Neutral rating on the shares. The online local businesses platform closed Thursday down $4.23 to $38.20.
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