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Fly News Breaks for July 29, 2015
YELP
Jul 29, 2015 | 07:38 EDT
Citi analyst Mark May thinks Yelp's current valuation already reflects the slower growth outlook and the required investments. While the company's Q2 results were in-line, guidance "disappointed meaningfully," May tells investors in a post-earnings research note. The analyst views the stock as "washed out" and still sees the long-term potential of Yelp's strategic asset value. He cut his price target for shares to $35 from $54 but keeps a Buy rating on the name.