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Fly News Breaks for July 29, 2015
YELP
Jul 29, 2015 | 07:16 EDT
Cantor cut its price target on Yelp after the company reported lower than expected Q2 EPS. The firm says the company's decision to phase out brand advertising and slow the growth of its sales team caused its 2015 revenue guidance to drop. However Cantor still expects Yelp to benefit from its strong position in the local online ad market, and it thinks the company remains a potential takeover target. It keeps a Buy rating on the shares.
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